Horse-Riding business

Horse-Riding business

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Hi,

A self-employed horse-riding instructor has been trading for a number of years teaching children to ride horses. Each year we have offset the business expenses such as horse feeds, vetinary bills, lorry transport expenses etc against the income.

This year though she has been ill for most of the year and her self-employed income is no more than £75 for the year. However she has still incurred the same expenses as she would normally incurr as they are of a fixed nature, ie: horse feeds, vet bills etc.

My question is....will these expenses be allowable in the usual way leading to quite substantial losses?

Thanks

Matt

Replies (2)

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By justinelaws
10th Jan 2012 13:08

My view would be yes.

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By blok
10th Jan 2012 14:23

.

I think you need to look at intention.  She would cease self employment at the time she decided not to carry on. HMRC might argue the point if facts pointed to an earlier cessation.

 

 

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