Falconry and birds of prey - any allowances to claim ?

[Amie]

Hello - I am unfamiliar with this site but it has been recommended by a friend and I hope someone can possibly answer my question. We recently set up a bird of prey centre and we also visit various fairs around the country giving flying demonstrations with our birds. We have owned two of the birds for fifteen years whilst we recently bought three more which cost about £1000. My question is can we claim any allowances in respect of the £1000 recently paid. I have looked at various tax leaflets but am not sure if the total cost can be claimed as an expense in our accounts. Any help would be greatly appreciated.

[adi36]

Hi

Well i seem to remember a very old tax case where a farmer claimed capital allowances on his horse which he used in the business. On that basis i see no problem with claiming for the birds.

Regards
A Stevens
ASHER_taxconsultancy@hotmail.co.uk

[adi36]

the inland revenue manual CA21220 confirms you should get allowances on them.

Regards

A Stevens

[Amie]

Many thanks for your incredibly quick reply - did'nt really hold out much hope of getting a response at all on this question ! Very impressed with this forum. Kind regards - Jamie

[The Ivy Office Ltd]

The old tax case you are referring to is in relation to dray horses used by Whitbread Brewery.

Remember Jamie, that you do not claim 100% as a cost in your accounts but make a capital allowance claim seperately on your self assessment tax return (partnership one as you say "we")


dennis@taxesclear.co.uk

[The Ivy Office Ltd]

You can also claim capital allowances on the old birds at their value when you started the buisness. This will be restricted to Writing down allowances, first year allowances not being available.


Dennis@taxesclear.co.uk

[CDavey9501@aol.com]

And balancing allowances if they fly away for good or meet their maker.

[Amie]

many thanks to everyone - really helpful - hopefully won't neeed to claim balancing allowances too soon ! !