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HMRC internal manual

Business Income Manual

Farming: tenant right

S33, S34 Income Tax (Trading and Other Income) Act 2005, S53, S54 Corporation Tax Act 2009

A payment for tenant right made by an ingoing farmer should be treated as a purchase of trading stock and allowed as a deduction in computing her or his farming profits to the extent that it is of a revenue nature (see BIM55245).

See BIM55455 regarding unexhausted manures.