Capital Gains Query

[Orlaith]

Hi, my husband is PAYE employee in full time employment. He bought 12 sheep last year just to keep the grass down in the field around our house.
We only intend to have sheep during the growth period for the grass.
We sold them in September this year and made a small profit.
Do we declare that profit as we are not farmers, as Capital Gains, or not?
Which form, and can it be done online?
Thankyou.

 

[Joe_90]

How much did you make? Did you any vets bills etc transport.

Animals are not usually subject to CGT. So unless you are a farmer would fall outside the scope of tax.

 

[Orlaith]

Hi Joe 90,
No vets bills, we did all dosing etc ourselves.
We made about €600 on the sale...
If not Capital Gains do we have to declare it anywhere else?
Thanks.O

 

[T McGibney]

It's farming income. Subject to income tax, USC etc. Stick it on a Form 12.