Valuation error brings tax bill
Valuation error brings tax bill
- 1993
- Farmers' Weekly 118(22) 28 May 1993, 10(1) .
Farmers may face large tax increases as a result of paper profits where animal valuations for the Inland Revenue are assessed on market value rather on `herd basis`.
ANNUAL VALUATIONS
DEEMED COST BASIS
HERD BASIS
INCOME TAX
LIVESTOCK VALUATIONS
TRADING PROFIT
Farmers may face large tax increases as a result of paper profits where animal valuations for the Inland Revenue are assessed on market value rather on `herd basis`.
ANNUAL VALUATIONS
DEEMED COST BASIS
HERD BASIS
INCOME TAX
LIVESTOCK VALUATIONS
TRADING PROFIT