.png)
If you’ve received a letter from HMRC stating “You may need to declare income from the breeding or sale of animals” you’re not alone. This page will provide you with further information and how Tax Dispute Experts can help you resolve such matters, ensuring you meet your obligations while minimising any unnecessary tax, interest, and penalties.
Why Did You Receive This Letter?
HMRC has identified certain activities, like the breeding or sale of animals, that may result in undeclared income. While this could be referring to any animal, HMRC is strongly targeting dog breeders. Receiving this letter means that HMRC suspects you might owe additional taxes, interest, or penalties related to these activities.
Your letter may contain the following: “We have information that shows you’ve earned money (income) from the breeding or sale of animals”. This information is unlikely to be random, as HMRC has access to data from third-party providers, including pet insurance companies, online marketplaces, bank transactions, and even social media.
With this in mind, it’s crucial to collect accurate records and declare all income to avoid potential penalties. Tax Dispute Experts can support you in collecting and organising your records, ensuring compliance, and effectively addressing any issues raised by HMRC.
Key Elements of the Letter:
The letter will explain why HMRC believes you might owe additional taxes. It may request you to make a voluntary disclosure along with a deadline by which you must notify HMRC of your intentions, or risk HMRC opening a full, formal investigation.
Additionally, the letter may outline the possible tax, interest, and penalties you could face if discrepancies are found. Your letter may say “If we find you owe tax and didn’t pay on time, we’ll ask you to tell us how this error happened.” This message may seem straightforward, but without the experience or training in dealing with HMRC, you could end up paying more penalties than necessary. Seeking specialist advice from Tax Dispute Experts can ensure this does not happen.
How We Can Assist You
At Tax Dispute Experts, we will:
Review your situation - We offer a comprehensive review of your current situation. Our experts will analyse your records, identify any potential issues, and provide you with a clear understanding of your position.
Representation to HMRC - Our team can act on your behalf, communicating directly with HMRC. We will make representations to ensure your case is accurately presented, aiming to minimise any potential liabilities.
Minimise Exposure - By carefully reviewing your records and making accurate representations, we can help minimise your exposure to unnecessary taxes, interest, and penalties. Our goal is to ensure that you only pay what is legally required and nothing more.
Ongoing Support - We provide ongoing support throughout the entire process. From initial consultation to resolution, our team is here to help you every step of the way.
Contact Us
Need assistance with an HMRC enquiry? Contact us today to speak with our Tax Dispute Experts and protect your interests.