Amount of loss in race-horse activity defined by qualifying expenditure or shortfall against stake money. The amount of loss in owning and maintaining race horses is the expenditure (excluding capital expenditure) laid out wholly and exclusively for ... Summary
Amount of loss in race-horse activity defined by qualifying expenditure or shortfall against stake money.
The amount of loss in owning and maintaining race horses is the expenditure (excluding capital expenditure) laid out wholly and exclusively for maintaining race horses where there is no stake-money income, or where stake-money income exists, the excess of such qualifying expenditure over stake-money receipts.
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