– see also Trade or business

Absence of profit motive

Assets acquired as an investment

Case study

Commercial purpose

Concept of

Enhancing an asset


HMRC's view


Investment/trading stock

Manner and circumstances of sale

Method of acquisition

Mutual trading

Nature of asset

Number of transactions

Period of ownership

Preparing to trade, distinction between trading

Profit-seeking motive

Related interest or expertise

Source of finance

Trade principles

Trading stock/investment