[2014] UKFTT 338 (TC).

Judge W Ruthven Gemmell, WS, Ms Eileen A Sumpter, WS

Decision released 10 April 2014.

Income tax – Loss relief – Trade – Race horse bloodstock breeding and training – Whether a taxable activity – Yes in part – Whether on a commercial basis with a view to the realisation of profits – No – Appeal dismissed – Income Tax Act 2007 (‘ITA 2007’), s. 64 and 66.

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