HMRC strike breeders for what they see as easy money from the large hike in puppy prices following the outbreak of COVID in the pandemic.
As if COVID wasn’t enough for us all to contend with, HMRC have approached Petplan yet again and now the Kennel Club’s own insurer Agria, to obtain details of all the money you have had as a result of selling puppies for all years, but especially including the year ending the 5th of April 2021 (and into the following tax year ending the 5th of April 2022) when they know that the demand for puppies was high and prices very often doubled in those years.
Prior to COVID and in the last couple of years puppy prices are much lower and any profits made in those years consequently lower too.
However, for the COVID years alone tax liabilities have been incurred by many people purely seeking to top up their income during the difficult times when earnings levels during COVID may have suffered.
So not only did we all have the usual injections at that time, but many has now been injected with the fear that opening the brown envelope brings, in telling you that HMRC are aware of your dog breeding venture and expect you to pay the tax.
The taxman’s enquiries will not go away by ignoring the letters and it is now coming back to bite everyone well after the COVID pandemic is over.
