The HM Revenue and Customs (HMRC) has launched a new campaign specifically targeting animal breeders, focusing on ensuring that those involved in the breeding and selling of animals, such as dogs and cats, are meeting their tax obligations. As part of this initiative, HMRC has begun sending out targeted letters to individuals and businesses it suspects may not be fully compliant with tax regulations related to their breeding activities.

These letters serve as a formal notice and provide clear instructions for the recipients. They are advised to come forward and declare any income earned from breeding or selling animals that they have not previously reported. To facilitate this process, HMRC is offering a voluntary disclosure service, which allows individuals to correct any past inaccuracies or omissions in their tax returns. Recipients are given a timeframe of 30 days to make this disclosure and are expected to complete the entire process within 90 days.

Additionally, the letters include a reminder about the necessity of registering for self-assessment if their annual income from such activities exceeds £1,000. This registration is crucial for ensuring proper tax reporting and payment in the future. The campaign underscores HMRC’s commitment to tackling tax evasion and ensuring that all individuals and businesses meet their tax responsibilities accurately and promptly.