Relief for farming losses
Series: Farm Tax Brief ; 19(5) June 2004, 5-6(2)Publication details: 2004Subject(s): Summary: Describes the situation in the case "Walsh and another v Taylor (HMIT)", ([2004] STC (SCD) 48) where a farm was run on a commercial basis but not so that profits could reasonably be expected to be realised within the period set out in the hobby farming provisions of the Corporation Taxes Act 1988 s397 or within a reasonable period thereafter. Consequently loss relief under the Income and Corporation Taxes Act 1988 s381 was not available.| Item type | Current library | Call number | Copy number | Status | Barcode | |
|---|---|---|---|---|---|---|
| Journal article | London Journal article | ABS68066 (Browse shelf(Opens below)) | 1 | Available | 126775-1001 |
Describes the situation in the case "Walsh and another v Taylor (HMIT)", ([2004] STC (SCD) 48) where a farm was run on a commercial basis but not so that profits could reasonably be expected to be realised within the period set out in the hobby farming provisions of the Corporation Taxes Act 1988 s397 or within a reasonable period thereafter. Consequently loss relief under the Income and Corporation Taxes Act 1988 s381 was not available.