Owning a horse

Sylvester
Topic Author
Platinum Member
Posts: 13961
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Owning a horse

17 years 3 months ago

#21773

I notice one of the owners has moved all his horse into a PTY LTD.

Is there any benefit to the owner.

Does this put the trainer at a disadvantage with regards bad debt.

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Leeds Till I Die
New Member
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Re: Re: Owning a horse

17 years 3 months ago

#22556

The reason for doing this will in all probability be for tax purposes. Losses incurred whilst racing in your individual name will be ringfenced & not allowed to be offset against other taxable income, whilst losses incurred through a company may be written off against other taxable income earned by the company.

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