Section 38 Production animals etc.
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Expenditure is not qualifying expenditure if it is incurred on—
[(a) animals or other creatures to which section 30 of ITTOIA 2005 or section 50 of CTA 2009 (animals kept for trade purposes) applies,
(b) animals or other creatures to which Chapter 8 of Part 2 of ITTOIA 2005 or Chapter 8 of Part 3 of CTA 2009 (herd basis rules) applies, or
(c) shares in animals or creatures such as are mentioned in paragraph (a) or (b).]1
Amendments
1 Paras (a)-(c) substituted by Corporation Tax Act 2009 section 1322 and Schedule 1 para 481 for 2009-10 and later tax years (for income tax and capital gains tax purposes), and for accounting periods ending on or after 1 April 2009 (for corporation tax purposes).
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