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Accountancy question
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<blockquote data-quote="Phoenix76" data-source="post: 447547" data-attributes="member: 6518"><p>Waynec</p><p></p><p>The answer to your question given by Moneybox is spot on. And the main reason it is classed as a hobby is the amount you are earning and the high probability that if you started deducting your expenses you would make a loss. If you added all that to your normal income it would reduce you tax liability and the tax dept doesn't like those situations.</p><p></p><p>Cheers</p></blockquote><p></p>
[QUOTE="Phoenix76, post: 447547, member: 6518"] Waynec The answer to your question given by Moneybox is spot on. And the main reason it is classed as a hobby is the amount you are earning and the high probability that if you started deducting your expenses you would make a loss. If you added all that to your normal income it would reduce you tax liability and the tax dept doesn't like those situations. Cheers [/QUOTE]
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