Podcast Location:
Download it here [file size: 34.7 MB]
Part of:
Law in the Countryside CPD Training Bundle
Tax Law
CPD Points:
Up to 1 point. details »

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Regulated by the Solicitors Regulation Authority:
Listen and pass the quiz: Gain 1 CPD point (60 minutes)
Listen only, gain ½ a CPD point (30 minutes)

Regulated by the Bar Standards Board:
Listen and pass the quiz: Gain 1 accredited CPD point (60 minutes)

Regulated by ILEX:
Listen and pass the quiz: Gain 1 CPD point (60 minutes)
Listen only, gain ½ a CPD point (30 minutes)

  • FREE
30 minutes of audio
(+ optional 5 minute online quiz)
Plays on Computer:
Yes Downloadable as MP3:    Yes
Course Aims:

This podcast is aimed at those involved in businesses – usually in the countryside – who keep or breed horses. It addresses the current state of the equine industry, what are the current pressures facing studs and liveries and what planning should be undertaken to make an equine business tax efficient. It will focus on Income Tax, Capital Gains, Inheritance Tax and some of the complex issues involving the mix supply of services in an equine business and VAT.

After completing the course you will:
  • Understand some of the pressures facing the equine industry at present;
  • Be aware of the array of different taxes that impact upon equine businesses and how they fit together;
  • The importance of commerciality to HMRC’s assessment of an equine business;
  • How to assess commerciality and the importance of the business plan;
  • The important differences between stud farming and other equine businesses;
  • Be aware of the other sources of relief or income that equine business owners might take advantage of to supplement their income;
  • Be aware of the approach being taken as to BPR and APR on equine businesses;
  • Be aware of the complex treatment of VAT in equine business and the importance of a mixed supply in livery business;
  • Understand the circumstances in which an equine business may be VAT rated;
  • Understand the current issues in cross-border VAT issues in breeding businesses.
Specialist Difficulty: 5 of 5
Practical Guide
Sources and References:
  • Agnew v HMRC (TC 00566);
  • Walls v Livesey [1995] STC (SCD) 12;
  • Sharkey v Wernher [1955] 36 TC215;
  • John Window v Commissioners of Customs and Excise (No 17186) (unreported);
  • Golding v HMRC (TC 01211);
  • Forster v HMRC (TC01319).

In this podcast Julie Butler, chartered accountant and rural business advisor discusses some of the key issues in tax planning for businesses that keep horses, either to breed or to keep and care for. It focuses on the key tests HMRC use to provide relief and how to obtain it.

Podcast added: 23/08/11

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