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Reining in costs

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17 January 2012
Issue: 4337 / Categories: Forum & Feedback
The taxpayers own reindeer which they use to operate a sleigh ride business during the winter months. The business income is mainly received in the winter, but can the full annual costs of keeping the animals be claimed?

I have some clients who live in a rural area and own a couple of adjoining fields. I am not quite sure of the original reason for the purchase but it transpires that some time ago they purchased some reindeer.

These were kept as pets for a year or two but the owners then discovered that they could earn a reasonable amount of money by taking people for ‘sleigh’ rides (it seems that in the absence of snow the sleigh has cunningly disguised wheels) around the local area. It is also booked by other people for various Christmas events.

Obviously this income is generally limited to the Christmas season but the reindeer have to be kept for the rest of the year. What I would like to know is what I can claim in the way of expenses.

For example can I deduct the...

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