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Thread: More tax than legal. A shooting related tax problem.Any accountants out there?

  1. #1

    More tax than legal. A shooting related tax problem.Any accountants out there?

    Over the past year I have been controling the rabbits on a large ex MOD armaments depot that is now used as industrial. The owner over the past year has paid me 1000 by company cheques for which I have given him invoices explaining that the money is to cover expenses (which this amount has probably just covered).
    I am not a proffesional pest controller and have a full time job. Do I have to declare this money to the tax man? or should I keep schtum about it as I do with my carcass money.
    Maybe the next step is to declare it but as part of the bigger picture of my other sporting expenses (ferret food, deisel, landrover bulletts , dog food et etc etc etc......) but this seems like a hell of alot of hassle

    Any opinions appreciated. I

  2. #2
    Just change your name to Rednapp and the jurors will believe any cock and bull story

  3. #3
    I guess if they're paying you, then the safe thing would be to declare it as a "sole trader". This involves filling out your self assessment tax return, which, to be honest is pretty straightforward. In your case, you'd just have to fill out that you were paid 1000 pounds and then in the expenses part you can put all your expenses. Hopefully, your expenses will be more than 1000 pounds, so you'll pay nothing in tax. Of course, if you made a profit you would have to pay tax on that on top of your PAYE.

  4. #4
    If you did go the Sole Trader route, which is probably advisable, there's not a cat in hells chance you'll pay any tax with the little amount you're making. Factor in vehicle expenses, vehicle depreciation, fuel, tyres, ferret food, dog food, washing machine etc etc etc they'll easily outweigh the possible tax payment. But if I were you and not planning to get any bigger, don't bother declaring it.

    Tom
    I'm telling Captain - from the Wee'est of men.

  5. #5
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    Wait untill you get VAT registerd then tell the tax man .

    Otherwise tell the fuc@@@@s nowt !!
    BE PREPARED IT WASNT RAINING WHEN THEY BUILT THE ARC

  6. #6
    Unfortunitally if you do not declare it in full and claim for cost of foor etc and tax man comath then they will say you have been doing it for years and earning 4 times that each year and tax you accordingly and you will have to prove otherwise. few years ago an exwife wrote to tax office say I had been doing jobs for cash they would have taken the house if I had one!!!!. cover your arse and send a breakedown of your expenses in detail

  7. #7
    Quote Originally Posted by roedeerred View Post
    Unfortunitally if you do not declare it in full and claim for cost of foor etc and tax man comath then they will say you have been doing it for years and earning 4 times that each year and tax you accordingly and you will have to prove otherwise. few years ago an exwife wrote to tax office say I had been doing jobs for cash they would have taken the house if I had one!!!!. cover your arse and send a breakedown of your expenses in detail
    +1 Sound Advice

  8. #8
    been self employed, been sole trader, had (still have) my own ltd. Co. been employee, etc. etc....for that amount of money, trust me, do NOT bother declaring it to the tax man!

  9. #9
    Quote Originally Posted by roedeerred View Post
    Unfortunitally if you do not declare it in full and claim for cost of foor etc and tax man comath then they will say you have been doing it for years and earning 4 times that each year and tax you accordingly and you will have to prove otherwise. few years ago an exwife wrote to tax office say I had been doing jobs for cash they would have taken the house if I had one!!!!. cover your arse and send a breakedown of your expenses in detail

    + 1 I agree.
    It's accuracy that kills.

  10. #10
    Remember that free professional advice is worth every penny you paid for it! If you do end up talking to the tax(wo)man, avoid use of words like "sporting". Whether you decide to tell HMRC or not, keep all relevant expenditure receipts (and household stuff like phone bills etc is relevant).

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