This part of GOV.UK is being rebuilt – find out what beta means

HMRC internal manual

Business Income Manual

Farming quotas: compensation for permanent loss of quotas

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

Any compensation received for the permanent withdrawal or surrender of all or part of a farmer’s quotas is compensation for the permanent loss of a fixed capital asset. The sums received are capital receipts (see CG77920 onwards).