Farming, and other commercial occupation of land

Certain activities are deemed by the legislation to be trades if they would not otherwise be so.

Farming and market gardening in the UK are two such activities, treated for income tax purposes as the carrying on of a trade or part of a trade, whether or not the land is managed on a commercial basis with a view to the realisation of profits (ITTOIA 2005, s. 9) (though relief for losses incurred may be restricted if it is not: see ¶260-250. The tax treatment of farming generally is considered at ¶270-500ff.

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