Income Tax – losses – sideways loss relief – s 68(3) ITA 2007 – reasonable expectation of profit – time when test applied – application of test to farmer accepted as competent – held – milk price main component in profitability – outside farmer’s control – no reasonable expectation of losses for loss period – appeal dismissed.
Citations:
[2016] UKFTT 47 (TC)
Links:
Jurisdiction:
England and Wales
Income Tax
Updated: 11 July 2022; Ref: scu.559910