Hello,
If a company is intending to engage in property development, when would it be considered a trade has commenced? What would the usual trigger point be? Would it be the signing of a contract to acquire its first property, with costs pre-this point all being preparatory costs, i.e. pre-trading spend? What about if the company has taken out a loan to buy its first property – would this be the start of the trade rather than the acquisition itself? I’ve tried to research this but all the examples I see relate to either manufacturing companies.
Cheers
A