NO HOBBY HORSE

摘要

The thoroughbred breeding industry has had a rough ride through the recession, exacerbated by the commercial problems facing the racing industry in recent years. The result has been, in some cases, large income tax loss claims. HM Revenue & Customs has been closely reviewing all tax loss claims related to thoroughbred horse breeding, especially when there is no history of profit and the tax relief is at 50%. These are difficult times for the trade, and before conditions improve, it is essential that breeders and studs have protection in place to preserve this relief.