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HMRC internal manual

Business Income Manual

From
HM Revenue & Customs
Updated
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Farming: stock valuation: shares in animals

S30 Income Tax (Trading and Other Income) Act 2005, S50 Corporation Tax Act 2009

Where a farmer owns a share in an animal, the share should be treated as trading stock unless it is a production animal of a class for which the farmer has made a herd basis election, in which case see BIM55635.