16 May 2007
Our clients are a farming couple who also regularly run a car boot sale. On our advice, the clients declared this income as property income on the 'Land and Property' pages of their tax returns. HMRC are seeking to argue that this is trading income and is thus subject to Class 4 National Insurance. The level of the clients' income is such that this would be a substantial extra liability. Our contention is that it is property income deriving from the exploitation of land.
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