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If you run a business selling woolen garments/yarn etc......

 
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Stacey



Joined: 18 Jul 2005
Posts: 8380
Location: Kernow
PostPosted: Sun Oct 16, 05 9:34 pm    Post subject: If you run a business selling woolen garments/yarn etc...... Reply with quote
    

can you claim the 'running' costs of the sheep as expenses?

I'm assuming that people who buy their fleece in to spin claim the cost of the fleece as materials so if you're spinning the fleece from your own sheep can you claim the feed costs etc against tax?

ele



Joined: 05 Sep 2005
Posts: 814
Location: Derby
PostPosted: Sun Oct 16, 05 9:42 pm    Post subject: Reply with quote
    

That seems *totally* legitimite to me.

Rob R



Joined: 28 Oct 2004
Posts: 31902
Location: York
PostPosted: Sun Oct 16, 05 9:54 pm    Post subject: Reply with quote
    

Of course, they are a cost of sales

Stacey



Joined: 18 Jul 2005
Posts: 8380
Location: Kernow
PostPosted: Mon Oct 17, 05 7:39 am    Post subject: Reply with quote
    

Fab

Thanks both

hardworkinghippy



Joined: 01 Jan 2005
Posts: 1110
Location: Bourrou South West France
PostPosted: Mon Oct 17, 05 7:53 am    Post subject: Reply with quote
    

Don't forget fencing, dog feed (Working sheepdog -earns his keep.)

If you have more than ten sheep (not goats unfortunately) then you may be eligible for farming grants.

Most importantly Stacey register for VAT.

Irene x

Stacey



Joined: 18 Jul 2005
Posts: 8380
Location: Kernow
PostPosted: Mon Oct 17, 05 8:30 am    Post subject: Reply with quote
    

Aaaarrgh! Forms!

I'm only in the early planning stages right now but I'm going to see if I can get some professional advice. We're an Objective One area so there's a fair amount of funding around. There's an agency caled Cartwheel who keep sending me grant application forms and apparently I may qualify for a one to one consultation with one of their consultants.

I just have to be careful that I'm ready and recovered enough so that it doesn't all go ***'s up before I've even started.

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