Phew home from Crufts ! Breeding standard displayed and improved
Tips gained and prizes won
Innovative feeding and caring methods learned
Costs incurred in entries, grooming, showing, mileage, and whatever the outcome the most certain one is you will be greatly out of pocket!
So HMRC are having their cake and eating it as they continue to pursue dog and cat breeders armed with full information of your Puppy sales figures obtained from insurer Petplan!
This gives rise to little wriggle room but allowable expenses to offset sales are there for the claiming! But, and it’s a big but, and a hard fight … HMRC WILL DO ALL THEY CAN TO DENY YIU THE COSTS OF SHOWING
They want the tax on sales income as they say you are trading i.e. RUNNING A BUSINESS !
Bur on the other hand the showing of the dogs as a shop window to future sales is a HOBBY and can’t be claimed against sales !
Take care when continuing to breed to the top standard or to merely sell lovable pets that you keep as much paperwork as possible to back up that fight!Share