»Ê¹ÚÌåÓýapp

This chapter applies for Income Tax purposes to the computation of trade profits and property income. References in the text to a ‘businessâ€� should therefore be taken to include both trades and property businesses. »Ê¹ÚÌåÓýapp chapter does not apply for Corporation Tax purposes, where there are separate rules in the loan relationships legislation (see CFM11000).

S34, S111-S129 Income Tax (Trading and Other Income) Act 2005

Farmers� herd accounts should show the actual cost of the animals in the herd. However, where `herd basis cost� is used in the balance sheet rather than the actual cost of a herd the capital account may be adjusted to reflect the actual cost, see BIM55530.