# Income Tax (Trading and Other Income) Act 2005, Section 114: Initial cost of herd and value of herd


(1) In calculating the profits of the trade, no deduction is allowed for the initial cost of the herd.
(2) In calculating the profits of the trade, the value of the herd is not brought into account.

---
Source: https://www.legislation.gov.uk/ukpga/2005/5/section/114 (the official version)
Page: https://openlegislation.uk/income-tax-trading-and-other-income-act-2005/section-114
Contains public sector information licensed under the Open Government Licence v3.0. Source: legislation.gov.uk, The National Archives.