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HMRC internal manual

Business Income Manual

HM Revenue & Customs
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Farming quotas: termination of tenancy

Where a tenancy is terminated, the tenant and the landlord may reach agreement over the compensation payable to the tenant for the loss of his milk quota. If no agreement is reached, the tenant is entitled to statutory compensation for the loss of the quota, which passes to the landlord. In either case, the compensation is a capital receipt (see CG77942 onwards).