# Corporation Tax Act 2009, Section 117: Sale of whole or substantial part of herd


(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—
(a) section 118 applies (acquisition of new herd begun within 5 years of sale), or
(b) section 120 applies (replacement of part sold begun within 5 years of sale),
but 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).
(2) A profit arising from the sale is not brought into account as a receipt.
(3) No deduction is allowed for a loss arising from the sale.

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Source: https://www.legislation.gov.uk/ukpga/2009/4/section/117 (the official version)
Page: https://openlegislation.uk/corporation-tax-act-2009/section-117
Contains public sector information licensed under the Open Government Licence v3.0. Source: legislation.gov.uk, The National Archives.