Commentary

B2.620 Valuation of shares in stallion syndicates

Business tax
Business tax | Commentary

B2.620 Valuation of shares in stallion syndicates

Business tax | Commentary

B2.620 Valuation of shares in stallion syndicates

Part of the stock in trade of any person conducting a stud business may consist of shares in stallion syndicates. Strictly speaking, the value of such shares at the end of each accounting period should be determined by reference to the lower of cost or market value. However, in view of the fact that as many as 40 shares might be held in one stallion and each share owner might adopt a different method of determining the market value of his share, HMRC agrees to an annual writing down of the cost of

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