artschool Posted January 24, 2011 Report Share Posted January 24, 2011 why does your accountant look at your personal accounts? must be the same accountant as sting Quote Link to comment Share on other sites More sharing options...
UKPoacher Posted January 24, 2011 Report Share Posted January 24, 2011 Yes, you should tell them. But you should also keep an account of your expenditure related to hunting:- petrol, ammo, gun purchases, lamps, clothing, etc. That will bring it to an amount not worth paying anything on. Quote Link to comment Share on other sites More sharing options...
jasper3 Posted January 24, 2011 Report Share Posted January 24, 2011 why does your accountant look at your personal accounts? because i don't take a wage as such ..I take drawings so if there are any interest payments made he can claim them back don't ask me for technical details..thats what i pay him for Quote Link to comment Share on other sites More sharing options...
jonevo Posted January 24, 2011 Report Share Posted January 24, 2011 theres nowt as queer as folk A fool and his money are soon parted anyone wish to add any more lol Quote Link to comment Share on other sites More sharing options...
jasper3 Posted January 24, 2011 Report Share Posted January 24, 2011 theres nowt as queer as folk A fool and his money are soon parted anyone wish to add any more lol thats what a friend of mine use to say...until he had his 1st unexpected VAT bill when they found out he was doing more than 60k worth of buisiness a year Boy did he get a massive Bill as someone said..the difference between self employed and employed is massive when it comes to keeping your money secret but not really wise to admit to a figure being earnt on a public website Quote Link to comment Share on other sites More sharing options...
Scully Posted January 24, 2011 Report Share Posted January 24, 2011 If it's classed as earnings,and the dealer pays by cheque,then I don't think you have much choice,if you're self-employed.If that is the case then keep fuel bills,ammo receipts etc to off-set against tax. I'm self-employed and claim for EVERYTHING!You don't always get everything,but without receipts you'll get nothing. Quote Link to comment Share on other sites More sharing options...
Doc Holliday Posted January 24, 2011 Report Share Posted January 24, 2011 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 Is that a service that OTH offers then? I'd have thought they'd go to the local beauty clinic for that kinda thing? Or maybe I'm just thinking about the wrong kind of bush... :blink: Quote Link to comment Share on other sites More sharing options...
wymberley Posted January 24, 2011 Report Share Posted January 24, 2011 I was in full time employment and some of that time waS serving for queen in the RAF. Cheers OTH Oh dear! Obviously never a Brat or you would have learnt never volunteer (for) anything including information. Cheers Quote Link to comment Share on other sites More sharing options...
The Essex Hunter 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 I would like to add to the ever-growing tally of posts to this thread, and the quote “If it isn’t broke don’t try and fix it” seems quite appropriate. In addition, “I do this for real not a keyboard hunter” might not be the best statement you could have to describe the reasoning behind such a post. I cannot fault the Rabbit and Pigeon pictures as lots of people would love to catch or shoot a tenth of those, but the thought behind the post was like Stevie Wonder driving down the M25 not that good an idea. TEH Quote Link to comment Share on other sites More sharing options...
Blackbart Posted January 24, 2011 Report Share Posted January 24, 2011 I SHOOT LOT'S OF STUFF, I DO Is that what you meant to write ? or is it a case of mouth before brain ? :blink: :blink: Quote Link to comment Share on other sites More sharing options...
Dr W 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 I agree there's no need to show your accountant your personal accounts, it just makes it easier for them to check you are disclosing all your income, you certainly don't need to justify to your accountant what income is coming into your account. If you've got a separate business account then that's different as they'll want to reconcile your bank account so they can be sure that the business accounts balance. If they want to see personal stuff because they prepare your personal tax well it's you who signs the declaration so you could (if bothered) just provide a list of income and tell them to prepare the tax return from the data you provide. I can't see any reason to provide your personal bank account statements. Quote Link to comment Share on other sites More sharing options...
Cookiemonsterandmerlin. Posted January 24, 2011 Author Report Share Posted January 24, 2011 I got nowt to hide from the taxman so I am not the one worried about highlighting this . Looking at the replies it could be others who may have more of a headache now with the trace ablitly of the hunters declaration and better book keeping of game bought by by dealers . Remember now that the dealers have to keep records of who they have bought quarry off and with that inturn your details and invoice totals. Cheers OTH Quote Link to comment Share on other sites More sharing options...
Imperfection Posted January 24, 2011 Report Share Posted January 24, 2011 Why would anyone willingly offer extra money to the taxman? There really are some odd people about. :blink: As for the game dealer having my details-no he dont and it will remain that way. Quote Link to comment Share on other sites More sharing options...
Jaminzx7r Posted January 24, 2011 Report Share Posted January 24, 2011 The accountant looking at the personal accounts is a dilligent move and very thorough on his part. Should you be investigated EVERYTHING will be scrutinised. From the ins and outs of your business and personal bank accounts, savings accounts, credit card(s) statements to the personal effects within your house. A member of my family went through an investigation several years ago, they're ruthless. Of course, it's only a problem if you get investigated. Quote Link to comment Share on other sites More sharing options...
Dr W Posted January 24, 2011 Report Share Posted January 24, 2011 Yes but he's not inviting his accountant round to his house for an audit of his possesssions to check he hasn't bought something for cash every year is he? Yes he should declare all his income that goes through his account but no need to pay his accountant to trawl through his personal bank statements he can do it himself and declare the earnings, unless he likes paying his accountant for the time he spends doing something that's not really necessary. Quote Link to comment Share on other sites More sharing options...
jasper3 Posted January 24, 2011 Report Share Posted January 24, 2011 To be Honest Dr W..It has paid me to let my Accountant do my complete finances, that includes personal aswell as buisiness yes i do have a personal account aswell as a buisiness account and as you say..they like to balance the bank statements If ever I get a visit..my books will tally 100%, I would class myself as not bright enough to fiddle the system...or stupid enough to put any queerie that could land me in the **** on a public website going back to the OP ...the answer to his question must be..yes declare it if the question was never asked..one could only hope that no one ever finds out None of us loves paying Tax.... but to claim as much back as we are intitled is a nice feeling Quote Link to comment Share on other sites More sharing options...
woodcock11 Posted January 24, 2011 Report Share Posted January 24, 2011 I think you should definitely declare it because if you don't and HMRC find out [and they will!], they will go through everything and believe me, that is not a bundle of laughs. We had a tax investigation on our "side" trading activities a few years ago. HMRC thought they would claw back a lot of tax. It went on for about 9 months - we had nothing to hide and our accounts were up-to-date and our accountant was first class. In the end the Inspector disallowed £1000 claimed for travel & subsistence [from a much larger sum] and charged £400 tax. HMRC owed us £2,500 so we got slightly less back. Even though we knew we were OK, it was not a very pleasant experience - a bit like feeling guilty when driving and seeing a police car, only much worse. For the same reason, we have always charged VAT on our shoot let days. I know of one shoot that did not and HMRC went back and charged them for I think 6 years worth of back VAT and they had NO CHANCE of getting that back from their clients! We may not like paying our taxes and we may think our Government wastes the income that it gets from them - or at least the bits we as individuals dont like - but that is life and if you want to live in a civilised country with services provided that you largely take for granted, then that is what you have to do. I get far more annoyed at those people who dodge and avoid paying the tax that they ought to pay, than actually having to pay it! Quote Link to comment Share on other sites More sharing options...
Doc Holliday Posted January 24, 2011 Report Share Posted January 24, 2011 As the old saying goes, the only certainties in life are death & taxes. Although I can't do sod all about death my golden rule, being self employed, is not to upset HMRC. I pay what's due and don't bitch about it. I pay a lot of money to my book keeper and accountant to make sure that everything is in order, although just changed accountants last year as I felt they were taking the rise charging me £800 plus VAT. Negotiated a deal with new accountant who knows my book keeper and knows the quality of her work. Old accountant openly admitted he wouldn't/couldn't match it so told him he wouldn't get my business. Quote Link to comment Share on other sites More sharing options...
Cookiemonsterandmerlin. Posted January 24, 2011 Author Report Share Posted January 24, 2011 When a dealer pays out to any of us they should be be providing a invoice and method of payment . Along with trained hunters hygenie number how can you get paid for your game without having some sort of trace ablity to yourself .I think your kidding yourself if you think you can get away with selling large numbers . Cheers OTH Quote Link to comment Share on other sites More sharing options...
Dr W Posted January 24, 2011 Report Share Posted January 24, 2011 As the old saying goes, the only certainties in life are death & taxes. Although I can't do sod all about death my golden rule, being self employed, is not to upset HMRC. I pay what's due and don't bitch about it. I pay a lot of money to my book keeper and accountant to make sure that everything is in order, although just changed accountants last year as I felt they were taking the rise charging me £800 plus VAT. Negotiated a deal with new accountant who knows my book keeper and knows the quality of her work. Old accountant openly admitted he wouldn't/couldn't match it so told him he wouldn't get my business. Only one note of warning (which is obvious) you get what you pay for (not all accountants are of the same quality, similar to doctors) and £800 doesn't seem outrageous but I don't know what format you present the books to your accountant, if you've got a bookkeeper as well then I suspect that your books are in fairly decent order. Quote Link to comment Share on other sites More sharing options...
reddan Posted January 24, 2011 Report Share Posted January 24, 2011 Is that a service that OTH offers then? I'd have thought they'd go to the local beauty clinic for that kinda thing? Or maybe I'm just thinking about the wrong kind of bush... :blink: And I held back for so long and you have already said it If you married and your other half doesn't have any income why doesn't she sell them to the dealer, if it still remains under the allowance then jobs a good un. Dan Quote Link to comment Share on other sites More sharing options...
Cookiemonsterandmerlin. Posted January 24, 2011 Author Report Share Posted January 24, 2011 And I held back for so long and you have already said it If you married and your other half doesn't have any income why doesn't she sell them to the dealer, if it still remains under the allowance then jobs a good un. Dan Dan we both work I dont have a issue declaring myself I wonder how many other members do I now know from the hostile replies the answer. And yes I can trim your grans or wifes or any others bushs I even do essex boys bikni lines for they action packed weekend at the charity shot. Cheers OTH Quote Link to comment Share on other sites More sharing options...
juby trap Posted January 24, 2011 Report Share Posted January 24, 2011 are you havin a laugh next time you get a bright idear keep it to your self this should have been stopped :wacko: :wacko: Quote Link to comment Share on other sites More sharing options...
Cookiemonsterandmerlin. Posted January 24, 2011 Author Report Share Posted January 24, 2011 are you havin a laugh next time you get a bright idear keep it to your self this should have been stopped :wacko: :wacko: Why Quote Link to comment Share on other sites More sharing options...
The Duncan 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 I'm really sorry OTH, I think that was me I was only meaning it tongue-in-cheek! IMO they can swing for it as out of every £1.30 per litre paid on petrol/derv, £1.05 goes to HM Govt, we pay 20% VaT on almost everything we buy (other than non-luxury food), we pay 20-40% income tax before we get to pay the other taxes connected to our purchases, congestion charging (tax) to dive into London CC zone, huge parking charges at the local hospital etc etc etc. HMRC is even going after not for profit shooting syndicates if they think they can make them accountable for VAT! The strict, law-abiding, anally-retentive part of me says declare it as I doubt your costs and transport, ferret feed and upkeep etc will see much profit from the venture. If you declare it, then I'll have to declare my 'free meat' from shooting which could be seen as a taxable benefit!? I honestly wouldn't worry about it HMRC have much bigger fish to fry All the best Duncan Quote Link to comment Share on other sites More sharing options...
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