Cookiemonsterandmerlin. Posted January 24, 2011 Report Share Posted January 24, 2011 After a reply to a recent thread about income I receive from rabbits etc I declare myself this as income as it can reach £3000 a year from the game dealer on a good year. Should we declare it as part of our incomes or is this part of the black money that the HMRC cant do alot about. Cheers OTH Quote Link to comment Share on other sites More sharing options...
tinytim38 Posted January 24, 2011 Report Share Posted January 24, 2011 lost for words :blink: Quote Link to comment Share on other sites More sharing options...
Cookiemonsterandmerlin. Posted January 24, 2011 Author Report Share Posted January 24, 2011 lost for words :blink: Why Quote Link to comment Share on other sites More sharing options...
Mungler Posted January 24, 2011 Report Share Posted January 24, 2011 In a word, yes. http://www.hmrc.gov.uk/manuals/eimanual/EIM00520.htm Well done you for publishing this on a popular shooting forum and potentially bringing it to the attention of HMRC. Next time, just keep a log of your dealings / money received and pop it in the post to the HMRC with your contact details. Quote Link to comment Share on other sites More sharing options...
artschool Posted January 24, 2011 Report Share Posted January 24, 2011 (edited) it does pose the question. who is worse, overpaid doctors or black market game dealers? Edited January 24, 2011 by artschool Quote Link to comment Share on other sites More sharing options...
Jaminzx7r Posted January 24, 2011 Report Share Posted January 24, 2011 (edited) What a mistaka to makea If 3k a year is on the side of your other earnings from a regular job HMRC will be wanting between 20 and 40% of that after your expenses to earn it. Edited January 24, 2011 by Jaminzx7r Quote Link to comment Share on other sites More sharing options...
garyb Posted January 24, 2011 Report Share Posted January 24, 2011 In my opinion.... They can swing for it Quote Link to comment Share on other sites More sharing options...
artschool Posted January 24, 2011 Report Share Posted January 24, 2011 the other problem is that they might assess you for previous years "earnings". Quote Link to comment Share on other sites More sharing options...
mattslaptop247 Posted January 24, 2011 Report Share Posted January 24, 2011 So, why not register as a business, buy a new purdey at £75,000, cartridges, vehicle, fuel etc ... make £3000 selling game and bingo, make a massive loss and claim the money back from HMRC!! Quote Link to comment Share on other sites More sharing options...
artschool Posted January 24, 2011 Report Share Posted January 24, 2011 So, why not register as a business, buy a new purdey at £75,000, cartridges, vehicle, fuel etc ... make £3000 selling game and bingo, make a massive loss and claim the money back from HMRC!! because its only offset not "claimed back" Quote Link to comment Share on other sites More sharing options...
al4x Posted January 24, 2011 Report Share Posted January 24, 2011 In my opinion.... They can swing for it same here however even with 3K to go at I can see my shooting expenses being higher than that every year so really its pretty irrelevant. Surely when the little old ladies pay you in cash for trimming their bushes OTH you don't declare it all Quote Link to comment Share on other sites More sharing options...
Vipa Posted January 24, 2011 Report Share Posted January 24, 2011 After a reply to a recent thread about income I receive from rabbits etc I declare myself this as income as it can reach £3000 a year from the game dealer on a good year. Should we declare it as part of our incomes or is this part of the black money that the HMRC cant do alot about. Cheers OTH Really? You obviously like complicating your life! So, is £3k your net profit from your rabbiting?? Do you claim for your ammunition, weapon usage (wear & tear, depreciation,) vehicle usage, fuel, specialist clothing requirements, tools (knives etc..) If it's anything like pigeons, the cash from the game dealer only just covers the cost of the cartridges.... You obviously just like paying too much tax! And... for the record... I also can't believe you posted that on here!!! Quote Link to comment Share on other sites More sharing options...
Jaminzx7r Posted January 24, 2011 Report Share Posted January 24, 2011 So, why not register as a business, buy a new purdey at £75,000, cartridges, vehicle, fuel etc ... make £3000 selling game and bingo, make a massive loss and claim the money back from HMRC!! Tried something similar to that once, you cant claim back more than you've earn't (well according to my accountant anyway), so purdey may not be the best choice, perhaps a nice Beretta. Quote Link to comment Share on other sites More sharing options...
Scully Posted January 24, 2011 Report Share Posted January 24, 2011 Now you've posted it on here....................... Quote Link to comment Share on other sites More sharing options...
kdubya Posted January 24, 2011 Report Share Posted January 24, 2011 they have got more to worry about than a poxy possible 3k,and are not so keen to increase allowances when you are entitled to them,so if you want to declare it do so, if it helps you sleep at night KW Quote Link to comment Share on other sites More sharing options...
Vipa Posted January 24, 2011 Report Share Posted January 24, 2011 they have got more to worry about than a poxy possible 3k,and are not so keen to increase allowances when you are entitled to them,so if you want to declare it do so, if it helps you sleep at night KW Disagree KW... the country is broke... the revenue are ruthlessly going after EVERYTHING they are owed, large or small... things they would have considered too small to worry about 2 years ago are now chased with the same vigour as the big stuff... and you know HMRC are the dog on the block with the biggest teeth!!! Quote Link to comment Share on other sites More sharing options...
artschool Posted January 24, 2011 Report Share Posted January 24, 2011 (edited) they have got more to worry about than a poxy possible 3k,and are not so keen to increase allowances when you are entitled to them,so if you want to declare it do so, if it helps you sleep at night KW the revenue will not look at it that way, at the minute they are looking everywhere for money. OTH's biggest concern is that they will try to get the previous 4 years as well, plus they may investigate the game dealer he is selling them to. edit: vipa can type faster than me Edited January 24, 2011 by artschool Quote Link to comment Share on other sites More sharing options...
Cookiemonsterandmerlin. Posted January 24, 2011 Author Report Share Posted January 24, 2011 Being self employed surley having that much go into your account it would be hard not to declare. If your employed yes it would be rare to have the taxman look at your books. Is this one of the PW classic cases of it wrong to speed and slate them for there actions. But its OK to not declare you money for quarry I have shot. Cheers OTH Quote Link to comment Share on other sites More sharing options...
Cookiemonsterandmerlin. Posted January 24, 2011 Author Report Share Posted January 24, 2011 the revenue will not look at it that way, at the minute they are looking everywhere for money. OTH's biggest concern is that they will try to get the previous 4 years as well, plus they may investigate the game dealer he is selling them to. edit: vipa can type faster than me I was in full time employment and some of that time waS serving for queen in the RAF. Cheers OTH Quote Link to comment Share on other sites More sharing options...
kdubya Posted January 24, 2011 Report Share Posted January 24, 2011 Disagree KW... the country is broke... the revenue are ruthlessly going after EVERYTHING they are owed, large or small... things they would have considered too small to worry about 2 years ago are now chased with the same vigour as the big stuff... and you know HMRC are the dog on the block with the biggest teeth!!! and I dissagree, they go through a set amount at random, looking at bank accounts etc,got more chance of winning the lottery, plus if the 3k had never been "seen" IE cash,how the hell would they ever know? unless like a *** you told them. KW Quote Link to comment Share on other sites More sharing options...
Mungler Posted January 24, 2011 Report Share Posted January 24, 2011 unless like a *** you told them. Nail on head Quote Link to comment Share on other sites More sharing options...
Vipa Posted January 24, 2011 Report Share Posted January 24, 2011 unless like a *** you told them. KW classic Quote Link to comment Share on other sites More sharing options...
al4x Posted January 24, 2011 Report Share Posted January 24, 2011 and I dissagree, they go through a set amount at random, looking at bank accounts etc,got more chance of winning the lottery, plus if the 3k had never been "seen" IE cash,how the hell would they ever know? unless like a *** you told them. KW of course if the dealer pays you by DD into your business account then its up there with a few darwin award nominees If its cash then just don't put it in the bank Quote Link to comment Share on other sites More sharing options...
jasper3 Posted January 24, 2011 Report Share Posted January 24, 2011 Being self employed , you do put yourself in a different corner..your bank statements and books need to balance, my accountant looks at buisiness and personal accounts... Ok !! this wouldn't affect me , as I don't sell my quarrie if your accountant does ask you where the extra money has come from, I would hope you keep your running costs ie fuel, ammo, clothing reciepts to show you don't make a profit I know some have said its silly sticking this up... but it might have been better to of asked your accountant 1st before publishing it on a public website...you never know who is looking in Quote Link to comment Share on other sites More sharing options...
al4x Posted January 24, 2011 Report Share Posted January 24, 2011 why does your accountant look at your personal accounts? Quote Link to comment Share on other sites More sharing options...
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