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HELP HELP HELP - stud tax return

I've got myself all muddled up with this talk of transferring to racing stock and selling the race horses at tax free profits.  It all confuses me. The single HMRC officer dealing with this area is clearly very very expert in this area and knows a million times more about this sector than I do!

Is anyone out there an expert in this field?

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I'm not sure myself...

...it seems to me that you need to sit down with an intelligent colleague and a couple of fat books, and work all this out from the ground up, and I know this is not the best time of year for that, but it would suck to mess this up badly when you are not sure what you are doing.  So it might well be worth the time.

Regards

MtF

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