Pet Shop License/Tax Question

[tess1974]

i can tell u all that so of the info posted about tax is wrong, if u earn anything from selling anythng and u do it less then 12 times a year u dont have to report it all all,and as long as it under£3,000 per year

[purejurrasic]

Originally Posted by tess1974

i can tell u all that so of the info posted about tax is wrong, if u earn anything from selling anythng and u do it less then 12 times a year u dont have to report it all all,and as long as it under£3,000 per year

That depends on your own personal situation.

[Buriram]

Originally Posted by fazer600sy

I see more and more people trading reptiles that they have not bred or kept long term. There are a number of adverts especially that are trading in imports which would require a PSL and obviously are trading for profit.

My question is do these people know they require a PSL? do any of you declare sales for tax? also if you claim benefits do you declare your earnings to the state?

I have had a few PMs reference particular adverts in the past asking these questions which I can answer to an extent on PSL but not tax. So it would be good to get peoples views especially those who have knowledge of what you can legally trade without a PSL and how much if tax is payable you can earn.

My understanding is this does not affect breeders or long term owners of reps they sell.

I think a 'profitable hobby' can bring you a revenue of up to £2500 approx. per year. any more than this then you are liable to income tax ... and YES customs and revenue do peruse forums such as this and do monitor websites. They come up with a figure you would have to pay and it is up to you to DISPROVE that figure. No judge and no jury. Be careful out there and honest with your taxes - I know of four bird breeders caught this year for tax evasion by advertising on either their own websites or forums such as this.

To say that 'this does not affect breeders' is ignorant in the extreme. It is a business and therfore taxable - no ifs,no buts.

[Buriram]

Originally Posted by markandwend

Well we all know who this is aimed at, why dont the mods just gang up on the certain person who they are bitching about again, im not being funny here and will probs get told off again for this but some of the mods on here can bitch and whine about people and shit stir all the time, get a grip some of you mods! But hey on here stick someones name in green and the power goes straight to thier heads!
No wonder a hell of a lot of people on here are sick to death of the shit that these few people get away with!

Quick go round and hang people when all they are doing is doing favours for people.
JESUS CHRIST SOME PEOPLE TRY AND DO OTHERS FAVOURS ON HERE AND ALL THEY GET IS CRAP AND STUPID THREADS AIMED AT THEM!

In this case, so everyone who makes a single penny selling any reptiles needs a PSL? If so the tax man is going to have fun going round to see ALL BREEDERS on here!

I would imagine an example wpould be made of one, not all.

[Buriram]

Originally Posted by Buriram

I think a 'profitable hobby' can bring you a revenue of up to £2500 approx. per year. any more than this then you are liable to income tax ... and YES customs and revenue do peruse forums such as this and do monitor websites. They come up with a figure you would have to pay and it is up to you to DISPROVE that figure. No judge and no jury. Be careful out there and honest with your taxes - I know of four bird breeders caught this year for tax evasion by advertising on either their own websites or forums such as this.

To say that 'this does not affect breeders' is ignorant in the extreme. It is a business and therfore taxable - no ifs,no buts.

To clarify: obviously if you are a business/breeder that makes a loss then you have to PROVE this - ie you should keep all reciepts to offset your revenues or technically speaking you could be taxed on what they have decided is your profit. You need therefore to PROVE the loss you have made.

[Furless-Friends]

It should also be pointed out that if you apply for a PSL in your house some councils may report this as you may then be moved onto commercial rates ( It happened with me )

[Athravan]

Originally Posted by Furless-Friends

It should also be pointed out that if you apply for a PSL in your house some councils may report this as you may then be moved onto commercial rates ( It happened with me )

On the plus side, for my council, if you have less than 5 employees you can apply for a small business relief which should knock off 25% of the total bill so they're not totally heartless to small / home run businesses. They may not do it automatically though so worth asking if there are any discounts for small or home run businesses for your council rates.

[Claire&Aimee-Leigh]

so how does someone go about applying for a PSL.
i assume you would have to ring the council you intend to trade in which may not necessarily be your local council.

[Athravan]

Originally Posted by Claire&Aimee-Leigh

so how does someone go about applying for a PSL.
i assume you would have to ring the council you intend to trade in which may not necessarily be your local council.

Yes, you must contact the licensing department of the council in the area the business premises is - if this is different to the council that you live in, it doesn't matter, it is the one where the business will be that will issue the license. There is then a form to fill in, and a fee to pay. After this has been processed, you will be visited by a vet inspector, you may also have to undergo a health & safety inspection from a different inspector, or the vet may do it all at once. It is worth noting that my local fire brigade offer a basic health & safety consultation free of charge - then supplying reasonabley priced smoke alarms, fire exit signs, fire extinguishers and information on emergency exit strategies, all of which are required to maintain a business property.

After your inspections have been passed, there will be a committee meeting once a month. The committee meeting is usually at the beginning of the month - and deals with all things like planning permissions, new licenses, etc. and it is where people have the right to lodge a complaint or raise an issue which would stop someone being able to get planning permission or a license, etc. - You don't have to attend this, legally you have a right to but there's not much point. I've not personally heard of anyone objecting at a committee license to PSL, is it usually a formality. After the comittee meeting you are issued the license and you can start trading.

[jeff pollitt]

all i can say is "tell the tax everything"
i am in the building trade and was self employed some years ago they will charge interests and penalties that would make the krays feel sorry for you!!!!
also as far as running a business from home if you live in a housing association/council property check your lease , as you could be breaking the conditions of your tenancy.