BIM33100 - Stock: valuation: contents

»Ê¹ÚÌåÓýapp guidance in this chapter includes not only information on the acceptable valuation bases but also some descriptive paragraphs to give a feel for the important factors in a stock valuation. Stock valuation can never be absolutely precise, with a number of practical considerations affecting the accuracy of the estimate. GAAP provides the starting point for stock valuation for tax purposes, but you should note that it does not always prohibit methods such as last in first out (LIFO) for costing stock. LIFO is not an allowable method for valuing stock for tax purposes.

»Ê¹ÚÌåÓýappre is extensive guidance on valuing farm stock in HMRC help sheet HS232.

»Ê¹ÚÌåÓýappre is more detailed guidance on motor dealersâ€� stock at BIM52001.

  1. BIM33110
    Tax treatment of trading stock: Lord Nolan in Threlfall v Jones
  2. BIM33115
    »Ê¹ÚÌåÓýapp valuation bases
  3. BIM33120
    FIFO not LIFO: Minister of National Revenue v Anaconda American Brass Ltd
  4. BIM33125
    Non-allowable bases of valuation
  5. BIM33135
    Lower of cost and net realisable value: cost
  6. BIM33140
    Lower of cost and net realisable value: net realisable value
  7. BIM33145
    Net realisable value: use of formulae, slow moving stock, acceptable accuracy
  8. BIM33150
    Stock provisions
  9. BIM33155
    Valuing construction contracts
  10. BIM33160
    Mark to market or marking to market
  11. BIM33165
    Professional work-in-progress: general principles
  12. BIM33190
    Depreciation in stock
  13. BIM33199
    Change of accounting or tax basis of stock valuation