if you are a hobby breeder can anyone tell me what the position is with regard to the profit made and the tax man. have looked everywhere on the internet but cant find any information. thanks

Don't actually know but I'd say WHAT profit? I keep receipts for everything in case I'd ever need to prove anything; vets, food, show entries, stud fees, registration costs, microchips etc etc etc, and totalled up it would quickly show anyone what a huge loss breeding is.

PROFIT? In your dreams unless you have a lot of dogs.

It's the same as any other income - it gets added to your total annual income and you get taxed accordingly.

Technically, you should declare ANY income less deducted expenses - even if you make a loss. There has been another thread recently on this subject :)

Daisy