»Ê¹ÚÌåÓýapp

S112(7)(b) Income Tax (Trading and Other Income) Act 2005, S110(7)(b) Corporation Tax Act 2009

»Ê¹ÚÌåÓýapp herd basis extends to shares in animals as they apply to animals. »Ê¹ÚÌåÓýapp rule applies both to shares in single production animals used by a farmer for the purposes of their herd, and to shares in animals forming part of a herd.

In practice, the most common use of this rule is likely to be where there is a jointly owned herd under a share farming agreement (see BIM55640).