Gifts of trading stock to charities etc 105 1 This section applies if a company carrying on a trade (“ the donor ”) gives an article for the purposes of— a a charity, a registered club or a body…

Section 106 — Meaning of “designated educational establishment”

Meaning of “designated educational establishment” 106 1 For the purposes of section 105 “ designated educational establishment ” means an educational establishment designated, or within a category…

Section 107 — Gifts of medical supplies and equipment

Gifts of medical supplies and equipment 107 1 This section applies if— a a company carrying on a trade makes a gift from trading stock of medical supplies or medical equipment, b it makes the gift…

Section 108 — Receipt of benefits by donor or connected person

Receipt of benefits by donor or connected person 108 1 This section applies if a company carrying on a trade makes a gift in relation to which relief is given under— a section 105, b section 107(2),…

Section 109 — Election for application of herd basis rules

Election for application of herd basis rules 109 1 A company, or a firm of which a company is a member, which keeps or has kept a production herd for the purposes of a trade may make an election…

Section 109A — Residence of companies

Residence of companies 109A Chapter 3 of Part 2 of CTA 2009 (rules for determining residence of companies) applies for the purposes of this Act as it applies for the purposes of the Corporation Tax…

Section 110 — Meaning of “animal”, “herd”, “production herd” etc

Meaning of “animal”, “herd”, “production herd” etc 110 1 In this Chapter— a “ animal ” means any animal or other living creature, b “ herd ” includes a flock and any other collection of animals…

Section 111 — Other interpretative provisions

Other interpretative provisions 111 1 This section applies for the purposes of this Chapter. 2 A production herd kept by a farmer is of the same class as another production herd only if— a the…

Section 112 — Initial cost of herd and value of herd

Initial cost of herd and value of herd 112 1 In calculating the profits of the trade, no deduction is allowed for the initial cost of the herd. 2 In calculating the profits of the trade, the value of…

Section 113 — Addition of animals to herd

Addition of animals to herd 113 1 This section applies for the purpose of calculating the profits of the trade if an animal is added to the herd, unless it replaces another animal in the herd. 2 No…

Section 114 — Replacement of animals in herd

Replacement of animals in herd 114 1 This section applies for the purpose of calculating the profits of the trade if— a an animal (“the old animal”) is sold from the herd or otherwise ceases to be…

Section 115 — 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…

Section 116 — Sale of animals from herd

Sale of animals from herd 116 1 This section applies for the purpose of calculating the profits of the trade if an animal is sold from the herd unless— a it is replaced in the herd by another animal…

Section 116A — Holding beginning or ceasing to fall within section 490 of CTA 2009

Holding beginning or ceasing to fall within section 490 of CTA 2009 116A 1 Section 116 applies in accordance with the following assumptions if— a a holding that is a relevant holding for the purposes…

Section 116B — Shares beginning or ceasing to be shares to which section 523 of CTA 2009 applies

Shares beginning or ceasing to be shares to which section 523 of CTA 2009 applies 116B 1 If at any time section 523 of CTA 2009 (application of Part 5 of that Act to certain shares as rights under a…

Section 117 — Sale of whole or substantial part of herd

Sale of whole or substantial part of herd 117 1 This section applies for the purpose of calculating the profits of the trade if, either all at once or over a period not longer than 12 months, the…

Section 118 — Acquisition of new herd begun within 5 years of sale

Acquisition of new herd begun within 5 years of sale 118 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…

Section 119 — Section 118: sale for reasons outside farmer's control

Section 118: sale for reasons outside farmer's control 119 1 This section applies for the purposes of section 114, as applied by section 118(2). 2 If— a the farmer was compelled to sell the old herd…

Section 120 — Replacement of part sold begun within 5 years of sale

Replacement of part sold begun within 5 years of sale 120 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…

Section 121 — Section 120: sale for reasons outside farmer's control

Section 120: sale for reasons outside farmer's control 121 1 This section applies for the purposes of section 114, as applied by section 120(2). 2 If— a the farmer was compelled to sell the part of…

Section 122 — Herd basis elections

Herd basis elections 122 1 A herd basis election must specify the class of production herd to which it relates. 2 A herd basis election must be made— a not later than two years after the end of the…

Section 123 — Five year gap in which no production herd kept

Five year gap in which no production herd kept 123 1 This section applies if a farmer— a keeps a production herd of a particular class, and b ceases altogether to keep herds of that class for a…

Section 124 — Slaughter under disease control order

Slaughter under disease control order 124 1 This section applies if— a the whole or a substantial part of a production herd kept by a farmer is slaughtered under a disease control order, and b the…

Section 125 — Preventing abuse of the herd basis rules

Preventing abuse of the herd basis rules 125 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…

Section 126 — Information if election made

Information if election made 126 . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .