{
  "url": "https://openlegislation.uk/corporation-tax-act-2009/section-127D",
  "json_url": "https://openlegislation.uk/corporation-tax-act-2009/section-127D.json",
  "legislation": "ukpga/2009/4",
  "legislation_title": "Corporation Tax Act 2009",
  "legislation_url": "https://openlegislation.uk/corporation-tax-act-2009",
  "path": "section/127D",
  "kind": "section",
  "number": "127D",
  "heading": "Effect of claim for spreading of profits",
  "text": "If the farm company makes a claim under section 127B in respect of the total compensation profit for an accounting period (“period X”), the profits of the trade carried on by the farm company are to be adjusted for corporation tax purposes as follows—\nStep 1\nTreat the compensation payable for all of the relevant animals slaughtered in period X as a receipt of that period (regardless of when the compensation is finally determined or paid).\nStep 2\nIf the farm company makes a profit in the trade in period X, deduct from the profits of that period an amount equal to—\n(a)the total compensation profit for period X, or\n(b)if the total compensation profit exceeds the profits of period X, such portion of the total compensation profit as will reduce the profits to nil.\nStep 3\nIn calculating the profits for each of the 3 consecutive accounting periods following period X, include an amount equal to one third of the amount deducted by virtue of step 2.",
  "extent": null,
  "status": null,
  "version": "current",
  "annotations": [
    {
      "type": "F",
      "label": "F1",
      "text": "Ch. 8A inserted (1.3.2012) (with effect in accordance with art. 12 of the amending S.I.) by The Enactment of Extra-Statutory Concessions Order 2012 (S.I. 2012/266), arts. 1, 10"
    }
  ],
  "outstanding_effects": [],
  "provenance": {
    "source": "legislation.gov.uk",
    "source_url": "https://www.legislation.gov.uk/ukpga/2009/4/section/127D",
    "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."
}