Logical data models symbolize the data created or utilized by an company from the user perspective. Through the later phases of the BPI methodology, the audience for a logical data model shifts from the end users of the proposed system to the specialized staff who will design and build it. Consequently, as the model’s degree of details and difficulty raises, the user demonstration focus is changing. Process models are created, refined and completed in tandem with logical data models.

The courts in other situations have also considered possible contacts with a person’s main trade. In IRC v Fraser 1942 24 TC 498, an isolated purchase in the purchase and re-sale of whisky in relationship happened to be an experience in the type of trade. The type of the commodity and amount purchased was such that it could not fairly be considered to be for own consumption, and there is insufficient evidence to point an investment purpose.

Some land was purchased with the intension to carry it as an investment. No income was produced by the land, however, it do have planning authorization. The land was sold latter following an unsolicited offer. As the transaction was far taken off the taxpayers normal activity (potato merchant) and was much like an investment, it had not been a trading profit.

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The transaction had not been an adventure in the type of a trade. • What happens to the asset pending resale may be a relevant factor. There may be modifications to the asset by way of processing or manufacture, or some kind of adaptation to make it more readily marketable. All these actions are typical of trading activities.

“The Respondents began by getting together a capital stock sufficient (1) to buy a second-hand vessel, and (2) to convert her into a marketable drifter. They bought the vessel and caused it to be transformed at their expense with this object in view, plus they effectively put her on the market.

Members of a wine syndicate joined up with in another syndicate to buy brandy from South Africa. Expenditure on a secured asset after purchase and before sale is not necessarily strong proof a trading purpose. You must have regard to the scale and nature of the expenditure. For example, insurance against loss, normal maintenance to avoid deterioration, or the price of fixing some fault, which prevents the asset carrying out its normal function, may have little if any relevance when contemplating a question of trading.