Section 115 — Corporation Tax Act 2009: Amount of receipt if old animal slaughtered under disease control order

Amount of receipt if old animal slaughtered under disease control order 115 1 This section applies for the purposes of section 114.

2 If—

a the old animal was slaughtered under a disease control order, and b the new animal is of worse quality than the old animal, the amount brought into account as a receipt under section 114 must not exceed the equivalent amount for the new animal.

3 For this purpose “ a disease control order ” means an order made under the law relating to the diseases of animals by—

a central government, b a devolved authority, c a local authority, or d another public authority.

4 If, immediately before it was added to the herd, the new animal was part of the farmer's trading stock, “ the equivalent amount for the new animal ” means—

a in the case of an animal bred by the farmer, the cost of breeding the animal and rearing it to maturity, and b in any other case, the sum of the initial cost of acquiring the animal and the cost (if any) incurred by the farmer in rearing the animal to maturity.

5 Otherwise “ the equivalent amount for the new animal ” means the cost of the new animal.