Professional racing

[Angel]

Hi, does anyone here claim against their travel, food, 'tools' (car, spares, etc), and other as taxable expenses - or even just claim the VAT back on their race season expenditure at the end of the tax year on their self assessment? Many people regard racing as more a lifestyle than a hobby, and their kit as assets rather than personal belongings, so in this current financial climate we must all be thinking of how to more easily afford our pursuits. Many businesses are 'zero-rated', meaning at the end of the year they haven't made a profit - but that does not mean that they have not been trying to, and who is to say that someone who only breaks even at the end of the tax year should be penalised for doing so - noone pays to work, and we all have to make a living somehow.

Horse racing, for example, is a high risk business that involves huge investment and, in particular, huge entry fees, where one year's champion must be very shrewd not to forfeit his/her year income from one year in the pursuit of greatness the following year.

Racing radio controlled cars, contrary to the opinion of detractors, is a scientific and academic study which like other competitive sports often results in the evolution of other aspects of human life - e.g. the lithium polymer battery, which may one day be helping to ferry the masses to their workplaces, the local supermarket, and even into space and beyond.

LOL, and i've gone off on one.