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  • Setting Up A Business Advice

    Hi guys,

    I have had a look through the previous posts and on the HMRC and Business Link, and apart from my brain being overloaded with information, I think I might have worked some of it out.

    I have a website done and I'm almost ready to set it live but I don't want to do that without knowing about the more 'business' side of it all.

    I was wondering if there was anyone in the same area as me that has already set up a business that might be able to meet with me and let me pick their brain?

    I'm in Guisborough, near Middlesbrough so if there is that would be a huge help and if not any help that anyone could give me would be great.

    I'm basically stuck on the bit where I would essentially be extending my hobby to actually selling beyond friends and family and giving them from myself, and I don't know how much of the self-employed stuff would actually apply to me - it's not so helpful with the hobby bit.

    Thanks

    Claire
    Claire:

    Zippy Cat Crafts - www.zippycatcrafts.co.uk

  • #2
    Hi Claire, unfortunatly the hobby bit makes no difference to HMRC. ( sigh)
    I believe that the advise on here is excellant and believe that as soon as you sell to others, ( particularly on a publicly viewable website as you may be selling to a taxperson! ) it means that you are liable to pay tax on your profits regardless of whether you are employed else where or not, you have a business.
    I am in my first year of trading as a business for exactly that same reason and am finding my way (blindly) through all of the stuff too.

    I cocked up my start up date by a week, and have a to submit a tax return, but as I spent more than sold in that week, I have nothing to pay them and they owe me a fiver !

    ive got masses to learn, but ask all the questions you like and people will help you in this forum.

    good luck
    If you dont have a go ................... you will never know

    https://www.facebook.com/HatPiece

    www.HatPiece.co.uk

    Comment


    • #3
      We've sorted this out for you somewhere on this forum. It's been made a sticky. Someone will pop up in a minute and tell you where to look.
      Basically what was your hobby becomes a little moonlighting business or second job. You pay tax normally through your 'proper' job, PAYE probably, then fill in a form telling the tax man all about your ex-hobby job. You'll be self employed and probably a sole trader. If you make a loss the tax man gives you some of your 'proper' job's money back. If you become a rip roaring successful entrepreneur you pay him a bit of money.

      So your journey should go: make a sale or two (as opposed to giving gifts to the family), ring up your local tax office, (or the otherway round if you'd rather), register as self employed then they set the ball rolling and tell you what to do.

      (When you've got your head round tax think about insurance........)

      Comment


      • #4
        http://www.craftsforum.co.uk/showthr...nks.&highlight=

        Here is the thread we started recently with links to helpful sites when setting up a business. Was supposed to be a sticky but couldn't find it in a header ??

        HTH

        Mo.XX
        Mo. Bodrighy Wood.
        Being deeply loved by someone gives you strength, while loving someone deeply gives you courage..Lao Tzu.
        www.bodrighy.co.uk
        https://twitter.com/#!/AuntieMornie

        Comment


        • #5
          Thanks, will check out the links
          Claire:

          Zippy Cat Crafts - www.zippycatcrafts.co.uk

          Comment


          • #6
            Originally posted by MornieG Jewellery View Post
            http://www.craftsforum.co.uk/showthr...nks.&highlight=

            Here is the thread we started recently with links to helpful sites when setting up a business. Was supposed to be a sticky but couldn't find it in a header ??

            HTH

            Mo.XX
            Just made it sticky
            full time mum and very very part time crafter.

            Comment


            • #7
              Thanks for that I couldn't find it except in my started threads.

              I think people have forgotton thay can add info they think might be useful to others.

              Mo.XX
              Mo. Bodrighy Wood.
              Being deeply loved by someone gives you strength, while loving someone deeply gives you courage..Lao Tzu.
              www.bodrighy.co.uk
              https://twitter.com/#!/AuntieMornie

              Comment


              • #8
                Now put the information Mo is referring to into a organised thread

                http://www.craftsforum.co.uk/showthr...796#post482796
                full time mum and very very part time crafter.

                Comment


                • #9
                  Originally posted by beadsbydesign View Post
                  Now put the information Mo is referring to into a organised thread

                  http://www.craftsforum.co.uk/showthr...796#post482796
                  You're a star..........and organised star. Some good stuff on there it doesn't hurt to read again.

                  Mo.XX
                  Mo. Bodrighy Wood.
                  Being deeply loved by someone gives you strength, while loving someone deeply gives you courage..Lao Tzu.
                  www.bodrighy.co.uk
                  https://twitter.com/#!/AuntieMornie

                  Comment

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