Ads

Collapse

Announcement

Collapse
No announcement yet.

Need some advice please

Collapse
X
 
  • Filter
  • Time
  • Show
Clear All
new posts

  • Need some advice please

    I so far haven't sold anything I have made for money, just swaps etc...

    What I am charging for my rugs and othe rthings barely covers my outlays and the reason I wnated to sell them was to buy more craft stuff otherwise I couldn't afford to do everything I do.

    Now I am getting so confused. I have read up about selling online and get that buyers have more rights etc...Scary enough...Now I have read that I need to declare even if I am not making anything? Is this right?
    And also people have mentioned product testing, liabilty and all this that and 10 and 6 of the other and I am sooooo confused. I only wanted some cash for more tapestry wool and more material and wool!

    Any help will be very much appreciated
    Blog
    http://minervascrafts.blogspot.com/

  • #2
    As soon as you sell anything, you have to register with the HMRC within 3 months or you risk being fined. Whether you make any money profit-wise is irrelevant as is how many sales you make. All that stuff gets sorted out within your tax return and if you are employed as well as being self-employed this is fine - your employment tax is sorted out by your employer and you just have to do the figures for your craft side. You may even end up paying less tax than you do now.

    Most crafts don't make any money in the first year or so, infact a negative figure is more common than not so don't worry about that. Have a look on the HMRC website for more information - you can register by phone and they are really helpful so don't be scared.

    As for all the regulations regarding Distance selling (ie. online) again, these are really simple. You need to have a mailing address & (preferably) a contact number visible on your site as well as a returns policy with a cooling off period. The office of fair trading have a very handy synopsis of the regulations (some of which won't apply to you) on their website - just search for Distance Selling Regulations.

    I don't know about product testing as I am not involved in the same crafts as you but you should get Product Liability Insurance which will cover you at fairs as well. I get mine from CMTIA and it costs less than £50 a year. Many organisers won't let you book a stall without this so it is definitely worth having.

    Hope this helps - rules and regulations always sound scary but usually aren't as bad as you first think.

    Good luck.
    Ali x

    Etsy Shop: aliscraftstudio.etsy.com
    Facebook: AlisCraftStudio
    Follow me on Twitter:
    @AlisCraftStudio

    Comment


    • #3
      Ali has give you some good advice, all too often crafters think because they make or do as a hobby and don't make much money that they do not have to declare, as Ali says you do, along with PLI is a must. Re testing most crafts don't need testing things such as toys for children should meet certain ec regulations and trading standards can help you here, your blankets sold for children should meet the guidelines and best to talk to TC about this. Your fingerless gloves for adults should not be a problem, not sure about the rugs as may have to be flame proof, again tc can help you here.

      Register with the tax office within 3 months and keep records of all your payments out and credits in, again not as scary as it sounds but always best to be legal, HMRC do visit craft fairs, you never know who that customer may be asking for a business card. We are all here to help you.

      Comment


      • #4
        Because I just don't understand declaring etc...I don't think I am going to make any to sell anymore. I can't get my head round it, so need to do that before I sell again.
        Blog
        http://minervascrafts.blogspot.com/

        Comment


        • #5
          Originally posted by AmyDave View Post
          Because I just don't understand declaring etc...I don't think I am going to make any to sell anymore. I can't get my head round it, so need to do that before I sell again.
          If you contact the HMRC they will send you details it is very easy to set up and then you submit a tax return with a section for the figures from your P60 each year. You can also go on a half day course where they give you all the information you need.

          Comment

          Working...
          X