A Guide to Taxation for the Irish Equine Industry
- 17 September 2020, 14:14
Grant Thornton have published the Irish Thoroughbred Breeders Association’s and Horse Sport Ireland’s guide to taxation for the Irish Equine Industry. This guide provides an overview of the general tax issues arising in this industry under various different tax heads.
The comprehensive guide covers topics such as:
- Horse breeding and training: Are you accounting correctly?
- Trading vs. hobby
- Foals and young stock
- Horse training and breeding
- Taxation in brief
- Hobby farmer and losses
- Sole trader vs. company
- Other trading reliefs
- Value Added Tax 13
- Flat-rate farmers
- VAT registered farmers
- Is your future tax proof?
- Stamp Duty and Young Trained Farmer
- Revenue risks: The importance of timely and accurate filings
You can view the full guide HERE