Profit or gains from stallion fees

You must pay tax on any income you receive from stallion stud fees. You must also pay tax on any profits or gains from the sale of stallions.

You can use your normal expenses from the upkeep of stallions as a tax deduction against this income.

Use Revenue Online Service (ROS) to enter your profit or gain amount on your Form 11 if you are self-employed. The profit or gain figure can be entered in Panel B, 'income from trades, professions or vocations'.