Horsebox owners are set to be the subject of an HM Revenue & Customs (HMRC) investigation as part of its clampdown on tax evasion, say independent chartered accountants WBV Ltd.
The warning from WBV, which has offices in Neath and Swansea, comes as the January 31 deadline for self-assessment tax returns fast approaches.
HMRC apparently suspects that some farmers and rural business owners are buying horseboxes through their company and either falsely claiming the cost as a business expense for tax purposes, or failing to declare personal use of the horsebox and paying tax on it as a ‘benefit in kind’.