Section 50 — Corporation Tax Act 2009: Animals kept for trade purposes

Animals kept for trade purposes 50 1 Animals or other living creatures kept for the purposes of a trade are treated as trading stock if they are not kept wholly or mainly—

a for the work they do in connection with the carrying on of the trade, b for public exhibition, or c for racing or other competitive purposes.

2 But they are not treated as trading stock if they are part of a herd in relation to which a herd basis election has effect (see Chapter 8).

3 This section applies to shares in animals or other living creatures as it applies to the creatures themselves.