Ch D (1992) 65 TC 532  STC 76
A builder made three property transactions, firstly. purchasing a run down house, repairing and renovating then selling at a profit. Second, purchase a strip of land, building a house on it and selling at a profit. Thirdly, purchasing a barn, converting it to a house and selling it at a profit. As a number of the badges of trade could be applied, there was a profit seeking motive and the assets sold had been modified. There was also a connection with the builders existing trade and the relatively short period of ownership. All the transactions were decided to be trading profits.