Part 2

Trading income
CHAPTER 16ZA

COMPENSATION FOR COMPULSORY SLAUGHTER OF ANIMALS

Right to make claim
225ZB
1
The farmer may make a claim under this section.
2
A claim may only be made in respect of the total compensation profit for a period of account.
3
The total compensation profit for a period of account is the sum of the profits which the farmer makes for all the relevant animals slaughtered in that period.
4
For the purposes of this Chapter the profit which the farmer 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 farmer’s share of that amount, determined in accordance with Part 9.
5
Nothing in this section prevents a claim being made before the amount of the compensation has been finally determined.
Pt. 2 Ch. 16ZA inserted (1.3.2012) by The Enactment of Extra-Statutory Concessions Order 2012 (S.I. 2012/266), arts. 1, 6 (with art. 9)