So I currently work full time, normal PAYE stuff but have 2 working dogs which I work on shoots a couple of times a week during the season. The tax rules are changing in Apr 13 and I will now need to provide NI details to my employer (the shoot) and they will have to pay tax directly on my earnings...
However, it actually costs me to work the dogs (fuel to get there and around the shoot in my own vehicle, dog food, vets bills etc etc) as I only get £45/day - and that's generous, many places are nearer £30/day. Pretty much everyone else who does it is in the same situation. No one does it for the money, but we are all decidedly hacked of that HMRC are taxing us when we're not actually making any money!!
So the question is, can I set up a limited company, put all my legitimate dog expenses through it, along with my £45/day and get a tax rebate. We're not talking huge amounts, prob about £500 in tax in total over the year. Can this tax issue be taken in isolation within the ltd company or do I need to factor in my PAYE stuff as well? I'm not looking to do anything clever (or underhand!) and write off any tax liabilities from my main job against this ltd company, all I would do is show a limited company that broke even, made no profit and claim the tax back on the earnings within the ltd company.
Expect the usual STW flaming over anything tax related