Horses Taxation advice

[OMD]

Can you please advise on the following??
If one is lucky enough to race a horse when it is sold I believe revenue does not look for any tax on the profits/sale. Obviously this horse would be in training with a licenced trainer.

Is there a tax liability on a horse that is with a licensed trainer and named but is sold prior to running in a race

 

[ClubMan]

Please note the posting guidelines on . I had to move this thread from the Best Buys Tables forum to the Taxation forum.

 

[bb12]

There's a 4% vat charge on sales of livestock and bloodstock.