127 Preventing abuse of the herd basis rules
Income Tax (Trading and Other Income) Act 2005 (2005 c 5) | Legislation

Preventing abuse of the herd basis rules

127  Preventing abuse of the herd basis rules

(1)     This section applies if—

(a)     a person carrying on a trade (the “transferor”) transfers the whole or part of a production herd to another person (the “transferee”),

(b)     the transfer is not by way of sale or is by way of sale but for a price other than that which the animals sold would have fetched if sold

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