C1Part 3Trading income
Annotations:
Modifications etc. (not altering text)
Chapter 8Trade profits: herd basis rules
The herd basis rules
112Initial cost of herd and value of herd
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 the herd is not brought into account.
Pt. 3 modified (1.1.2010) by Northern Rock plc (Tax Consequences) Regulations 2009 (S.I. 2009/3227), regs. 1, 4(1)