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Chapter BIM55240

Document Cited authorities 3 Cited in Related
Vincent
Published date22 November 2013
Record NumberBIM55240
CourtHM Revenue & Customs
IssuerHM Revenue & Customs

S25, S33 Income Tax (Trading and Other Income) Act 2005, S46, S53 Corporation Tax Act 2009

An outgoing tenant farmer may be entitled to statutory compensation under S 60e Agricultural Holdings Act 1986 or under the Agricultural Tenancies Act 1995. The compensation is payable where the tenancy of an agricultural holding terminates by reason of a notice to quit given by the landlord and, in consequence of that notice, the tenant subsequently quits the holding. It is intended, among other things, to compensate for `the loss or expense directly attributed to the quitting of the holding which is unavoidably incurred by the tenant upon or in connection with the sale or removal of his household goods, implements of husbandry, fixtures, farm produce or farm stock on or used in connection with the holding,’ including `any expenses reasonably incurred by the tenant in the preparation of the claim for basic compensation’.

This statutory...

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