{
  "url": "https://openlegislation.uk/corporation-tax-act-2009/section-117",
  "json_url": "https://openlegislation.uk/corporation-tax-act-2009/section-117.json",
  "legislation": "ukpga/2009/4",
  "legislation_title": "Corporation Tax Act 2009",
  "legislation_url": "https://openlegislation.uk/corporation-tax-act-2009",
  "path": "section/117",
  "kind": "section",
  "number": "117",
  "heading": "Sale of whole or substantial part of herd",
  "text": "(1) This section applies for the purpose of calculating the profits of the trade if, either all at once or over a period not longer than 12 months, the herd or a substantial part of the herd is sold unless—\n(a) section 118 applies (acquisition of new herd begun within 5 years of sale), or\n(b) section 120 applies (replacement of part sold begun within 5 years of sale),\nbut paragraph (a) is subject to subsection (5) of section 118 (so far as that section provides for a case in which this section is to apply).\n(2) A profit arising from the sale is not brought into account as a receipt.\n(3) No deduction is allowed for a loss arising from the sale.",
  "extent": null,
  "status": null,
  "version": "current",
  "annotations": [],
  "outstanding_effects": [],
  "provenance": {
    "source": "legislation.gov.uk",
    "source_url": "https://www.legislation.gov.uk/ukpga/2009/4/section/117",
    "retrieved_at": "2026-10-29T09:11:19.560467+00:00"
  },
  "licence": "Open Government Licence v3.0",
  "licence_url": "https://www.nationalarchives.gov.uk/doc/open-government-licence/version/3/",
  "attribution": "Contains public sector information licensed under the Open Government Licence v3.0. Source: legislation.gov.uk, The National Archives."
}