Income Tax (Trading and Other Income) Act 2005 section 172ZA

Niches, memorials and inscriptions: introduction

Section 172ZA introduces the rules for calculating trade profits where a business involves operating a crematorium and selling niches, memorials or inscriptions in connection with that crematorium.

• The rules in sections 172ZB to 172ZE apply to trades that consist of or include operating a crematorium
• Connected activities covered include the sale of niches or memorials and the making of inscriptions
• Key definitions are provided: "the trade" means the crematorium trade, "the trader" means the person carrying it on, and a "predecessor" means anyone who carried on the trade before the current trader
• These provisions were enacted through the Enactment of Extra-Statutory Concessions Order 2012, formalising what was previously an HMRC concession