Pet Shop License/Tax Question

[Nic B-C]

Breeding for yourself and breeding as a business is s grey area.

If you just have pets and they breed you are OK but if you buy in specific animals to breed a specific trait etc it will be classed as bought in for business purposes.

There is no set rule on PSL either it will vary from County to County or even local by laws.

Most of you as already said simply wont be affected though and could even end up in rebate situation.

You can do a certain amount of offset though and you should certainly be trading in a deficit in the first year at least!

[mirrorpad]

Some things to note are that to apply for a PSL you must be over 18 and must not hold any criminal convinctions.

does this include driving offenses i.e drink driving?

[mirrorpad]

sorry the first line was supposed to be a quote from first page

[lewisking]

no worries for me then...im 12 lmao, & i only sell, my dad buys them

[wohic]

Originally Posted by lewisking

no worries for me then...im 12 lmao, & i only sell, my dad buys them

so your dad has a licence then ?

[wayakinwolf]

Originally Posted by Mason

Come off it will you....

We breed some reptiles, we keep expenses accounts wherever possible.

Thusfar theres over 15k 'invested' in the animals themselves, another 5-10k in housing. My electricity is £130 PER MONTH, water £50 per month, frozen food approx £180 per month, substrate minimum £20 per month and I could go on..... (everything bulk purchased at the best price I find)

So then...which part of the few quid we make back from selling snakes is taxable again? This year we'll probably make maybe 500-1000 from selling hatchlings, this should (hopefully) increase a little year on year but when offset against the (so far) what must easily be 30-40 grand spent that rises each and every month.
This is why I laugh when informed I "do it for the money"

Snakes are the reason I have no money, they will never make me rich and I honestly couldn't care. Money isn't why I started, money isn't why I enjoy it.

WELL SAID MATE If i added up my costs, i`d be in debt plus starvation alley. Just my leccie bill is £158 per mth, so i know exactly what ya mean.

[animalstory]

Interesting stuff.