118 Acquisition of new herd begun within 5 years of sale
Corporation Tax Act 2009 (2009 c 4) | Legislation

118  Acquisition of new herd begun within 5 years of sale

(1)     This section applies for the purpose of calculating the profits of the trade if—

(a)     either all at once or over a period not longer than 12 months, the herd (“the old herd”) is sold, and

(b)     the farmer acquires or starts to acquire another production herd of the same class (“the new herd”) within 5 years of the sale.

(2)     Section 114 (replacement of animals in herd) applies as if a number of animals equal to—

(a)     the number of animals in the old herd, or

(b)     if smaller,

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