Trading Income / Badges of Trade Flashcards by Jacob Caine | Brainscape

Q

Definition of a Trade

Legislation Defines a Trade as:

A

‘Any Venture in The Nature of Trade’.

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Q

Badges of Trade

What are Badges of Trade?

A

Tests Developed From Case Law to Determine if Someone is Trading.

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Q

Badges of Trade

What Trigger is HMRC Most Interested in When Determining if a Trade Exists?

A

A Profit-Seeking Motive.

Not so Much the Existence of Profit

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