BIM55110 - Farming in tax law: all farming to be treated as a trade

All farming (see BIM55051) should be treated as the carrying on of a trade within Case I of Schedule D whether or not there is commercial motivation. For example people who breed horses as a hobby are usually treated as farming and are therefore carrying on a trade, even though the badges of trade may on balance point to no trade existing (but see BIM75600 onwards as regards relief for losses).