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News – 19.12.24
Buzzacott advises Rose Street Partners on its investment in Kenwood Damp Proofing PLC
Discover how Buzzacott supported Rose Street Partners on its investment in Kenwood Damp Proofing PLC … Read more
Insight – 18.12.24
Start-up guide: Everything you need to know about Tronc schemes to set your new hospitality business up for success
One challenge for new hospitality businesses is the management of tips and service charges. … Read more
Upcoming event – 16.01.25
VAT on Private School fees training
This in-depth, interactive training seminar is designed to provide school administrators, bursars, finance officers, accountants, and trustees with tailored support and expert insights on the practical implementation of VAT. … Read more
Find us quickly
130 Wood Street, London, EC2V 6DL
enquiries@buzzacott.co.uk T +44 (0)20 7556 1200
HMRC is contacting dog breeders in receipt of income from the sale of dogs and challenging whether such income should have been declared to HMRC. This campaign will target individuals who HMRC believes have received taxable income but not declared this.
HMRC receives intelligence from third parties, such as pet insurers, to identify dog breeders that it suspects are trading. If HMRC believe income from dog breeding should have been notified and declared to HMRC and has not, then significant potential penalties could be charged by HMRC. In extreme cases, criminal proceedings could be commenced.
Our Tax Investigations & Dispute Resolutions team can review your position, make representations on your behalf to HMRC and ultimately minimise your exposure to potential unnecessary tax, interest and penalties.
If our review shows that the dog breeding activities are nothing more than a side-line or hobby conducted around your main employment or self-employment duties we can robustly defend this position with HMRC and ensure that the enquiry is brought to a swift conclusion.
For example, we recently successfully represented a client in this position where with only one letter to HMRC we managed to get the enquiry closed.
For professional assistance call us today on +44 (0)20 7710 3389 or fill in the form below and one of our experts will be in touch to discuss how we can assist and provide an estimate of our fees . All communications are in the strictest confidence.
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