‘Butler’s Equine Tax Planning: 2nd Edition’ by Julie Butler
Published: October 2018
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Butler’s Equine Tax Planning: Second Edition examines all the important tax issues relating to equestrian matters. It is a must read for all those involved in this complex industry, looking at its various different areas together with a consideration of tax planning and protection against tax pitfalls. Butler’s Equine Tax Planning understands the vast range of equestrian industries, from stud farms, competition yards and liveries to individuals at the top of their game in polo, eventing, dressage and racing. All these have very different tax treatments and here these are explained and examined in light of recent tax legislation and decisions resulting from a number of tax tribunals over the last few years.
One important issue for all new equine businesses is losses. The equestrian industry generally has high infrastructure costs and early year losses are thus not unusual. Understanding how these tax losses can be maximised against other income is therefore key. Other important areas that require tax planning are often less obvious. For example, a lot of equestrian enterprises stem from farm diversification and the alternative use of land, which has a complex set of tax rules in itself. There are also tax implications associated to the development opportunities of an equestrian unit which now may arise with the Government decision to ensure there are more houses in the UK.
This book captures the passion and enthusiasm for the industry and the advantages and opportunities that accompany it whilst embracing all the tax efficiencies and highlighting tax problems.
ABOUT THE AUTHOR
After qualifying as a Chartered Accountant in 1980, Julie founded Butler & Co in 1986. She is a farm and equine tax specialist and together with her team provides consultancy services to other accountants, land agents and solicitors on farming diversification, bloodstock and all areas of the equine world. She is the author of Tax Planning for Farm and Land Diversification and Equine Tax Planning as well as co-author of Stanley: Taxation of Farmers and Landowners. In 2017 she became the editor of Farm Tax Brief and her articles are published regularly in the national accountancy and tax press. She lectures to a large variety of audiences through various organisations and to the rural community direct.
Chapter One – The Growth of the Equestrian Industry
Chapter Two – Taxation and the Equine Industry
Chapter Three – HMRC Attack on the Non-Commercial Equine Business
Chapter Four – Owning a Horse – Tax Planning
Chapter Five – Planning for VAT
Chapter Six – Tax Planning for the Breeder and the Stallion Owner
Chapter Seven – Tax Planning for Stud Farms
Chapter Eight – Planning for Equine Tax Losses
Chapter Nine – The Equestrian Landlord – Legal Aspects by Mark Charter