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LOOK AROUND THE countryside and you are likely to see more horses grazing than you will cattle or sheep. A recent survey by the British Equestrian Trade Association found that the number of horses in the country was approximately 1 000 000. In excess of 2.4 million people ride horses in the United Kingdom today. The numbers continue to increase and at the moment the trend does not seem to be slowing down.
The taxation of the ever-growing horse industry gives rise to considerable uncertainties. One of the problems we find is that there is a basic lack of understanding of the horse industry or ‘horsieculture’ by many tax Inspectors which leads to an inconsistency of treatment from district to district.
This article tries to address some of the direct tax issues that face the owners of horse businesses or farmers...
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