Section 127B — Corporation Tax Act 2009: Right to make claim

Right to make claim 127B 1 The farm company may make a claim under this section.

2 A claim may only be made in respect of the total compensation profit for an accounting period.

3 The total compensation profit for an accounting period is the sum of the profits which the farm company makes for all the relevant animals slaughtered in that period.

4 For the purposes of this Chapter the profit which the farm company makes for a relevant animal is—

a the amount by which the compensation for the animal exceeds its book value, or b if the trade is carried on in partnership, the farm company’s share of that amount, determined in accordance with Part 17.

5 Nothing in this section prevents a claim being made before the amount of the compensation has been finally determined.