s 252 Transfer of trading stock or work in progress
(1) When a person permanently ceases to carry on a trade, a sum realised by— (a) the transfer of trading stock, or (b) the transfer of work in progress, is not a post-cessation receipt if a valuation of the stock or work is brought into account in accordance with Chapter 12 (valuation of stock and work in progress). (2) This does not prevent a sum from being treated as a post-cessation receipt as a result of an election under section 185 (election for valuation of work in progress at cost). (3) In this section— (a) “ trading stock ” has the meaning given by section 174, and (b) “ work in progress ” and “ transfer of work in progress ” have the meaning given by section 183.