Author Topic: Selling offspring  (Read 3368 times)

mojocafa

  • Joined Sep 2012
  • Angus
Selling offspring
« on: January 16, 2014, 09:19:26 am »
Please excuse my ignorance but can you advise me...

I have a holding number but am not registered with anyone as a small holding or business.

I have Pygmy goats and am hopeful that a couple of them may be in kid

I have some chickens. Some rare breeds which I am thinking of hatching eggs to sell the birds
And some other chickens for eggs. I currently do not have enough birds to reg with defra.


If I sell any offspring, be it pygmys or poultry, or eggs do I declare this to Tax man?

Thanks in advance
pygmy goats, gsd, border collie, scots dumpys, cochins, araucanas, shetland ducks and geese,  marrans, and pea fowl in a pear tree.

darkbrowneggs

  • Joined Aug 2010
    • The World is My Lobster
Re: Selling offspring
« Reply #1 on: January 16, 2014, 09:35:55 am »
I had to read this as you had posted in "chat" and I wondered if you were trying to offload your children  :relief:


But with regard to your question I would say it depends on whether you eventually intend it to be a business rather than a hobby.  I imagine your current outgoings regarding feed, housing, fencing, bedding, vets, medications if you totalled them all up would far outweigh your egg sales. 


But if it is your intention (good luck with that  :eyelashes: ) to run at a profit I would suggest you start keeping a note of everything you spend so it can be offset against future income for tax purposes.  Don't forget to allow for car expenses and fuel used in fetching and carrying as well.
To follow my travel journal see http://www.theworldismylobster.org.uk

For lots of info about Marans and how to breed and look after them see www.darkbrowneggs.info

lachlanandmarcus

  • Joined Aug 2010
  • Aberdeenshire
Re: Selling offspring
« Reply #2 on: January 16, 2014, 09:44:59 am »
In theory any income is taxable, whether hobby or business. It's just income.


But you can offset any direct running expenses against it.

mojocafa

  • Joined Sep 2012
  • Angus
Re: Selling offspring
« Reply #3 on: January 16, 2014, 09:51:10 am »
I use the animals for therapy working with children with various needs but I have a neighbour who is hell bent on making my life difficult and just want to keep my self right as she feels the need to report me to social work, SEPA, SSPCA, she's prob reported me to animal health, so awaiting unannounced visit from them, but hey bring it on, I'm ready for them. The only other person she could report me to is IR for selling a few birds and eggs.

Like you say my outgoings far outweigh what any in comings may be.
pygmy goats, gsd, border collie, scots dumpys, cochins, araucanas, shetland ducks and geese,  marrans, and pea fowl in a pear tree.

Daisys Mum

  • Joined May 2009
  • Scottish Borders
Re: Selling offspring
« Reply #4 on: January 16, 2014, 11:14:44 am »
My accountant has advised me to keep records just in case the tax man wants to check up.  Box to keep receipts in and a notebook to record income and expenses should be enough I hope.
Anne

chrismahon

  • Joined Dec 2011
  • Gascony, France
Re: Selling offspring
« Reply #5 on: January 17, 2014, 06:49:14 am »
We kept all our receipts when we sold eggs, just to prove to anyone nosey that we were running at a huge loss, so there was no point in declaring it as a business and filling in a tax return.

Fowgill Farm

  • Joined Feb 2009
Re: Selling offspring
« Reply #6 on: January 17, 2014, 07:50:34 am »
We kept all our receipts when we sold eggs, just to prove to anyone nosey that we were running at a huge loss, so there was no point in declaring it as a business and filling in a tax return.
Ditto we do the same for the pigs, they have their own separate bank account & each month I match up incoming and out going receipts in a clear document wallet with the statement & I defy anybody to show me where the profit is!!!!!
Mandy :pig:
ps can horrid neighbour not be pacified by egg gifts? or is she just one of those women with empty lives that have FA to do all day & just like to make other peoples lives a misery to match their own ::)

mojocafa

  • Joined Sep 2012
  • Angus
Re: Selling offspring
« Reply #7 on: January 17, 2014, 08:28:52 am »
Thanks everyone for this, it has been a great help and as I type I have been reduced to tears :'(
Probably of relief that is one thing she can't get the better of me.

All I want to do is get by, live life quietly, happily, ensuring that my family and animals are healthy
And live within my means and achieve this by working hard, being fair & honest, considering others.

As for my neighbour, well.....without being slanderous all I can question is her integrity, mental health, and hold my head high and not lower myself to her standards. She has tried to influence my other neighbours, who are exceptionally wealthy and powerful in my area but that has back fired as they came and told me what she was saying, and have offered me legal/professional advice. So they now no what she's capable of too.

Thanks to all
Mojo

pygmy goats, gsd, border collie, scots dumpys, cochins, araucanas, shetland ducks and geese,  marrans, and pea fowl in a pear tree.

 

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