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Where Taxpayers and Advisers Meet

Showjumping tax implications

Herbs16
Posts:79
Joined:Wed Aug 06, 2008 3:53 pm
Showjumping tax implications

Postby Herbs16 » Wed Nov 08, 2017 2:18 pm

Hi
I have a friend who has 4 horses and jumps them in shows and receives a set amount of sponsorship each month.

I understand the sponsorship is taxable on my friend but is the value of the horses allowable as capital allowances at 18%?

Thanks
Dave

bd6759
Posts:3636
Joined:Sat Feb 01, 2014 3:26 pm

Re: Showjumping tax implications

Postby bd6759 » Wed Nov 08, 2017 6:28 pm

Capital alowances can be claimed on capital expenditure. Horse can be "plant".

https://www.gov.uk/hmrc-internal-manual ... al/ca21220


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