Finance Act, 1977

Amendment of section 16 (farming carried on by certain persons) of Finance Act, 1974.

10.Section 16 of the Finance Act, 1974 , is hereby amended by the deletion in subsection (1) of “(other than an individual who shows that the rateable valuation of all farm land occupied by him did not, at any time during the relevant year of assessment, exceed £50)” (inserted by the Finance Act, 1975 ), and the part of the subsection, as so amended, preceding paragraph (b) is set out in the Table to this section.


16.—(1) In this Chapter “an individual to whom section 16 applies” means an individual who is carrying on farming in a year of assessment and—

(a) who at any time in that year of assessment is also carrying on either solely or in partnership another trade or profession,