selling n stuff

[Nattelie]

Hi, just a concern I have, but for those of you who sell their crafted items, what do you do about tax etc?

What are the rules about it etc?

I want to try and make some of my £ back (I do it for physio) however I don't want to make it a fully blown business or anything, just reduce how much it costs me etc.

Oh, by the way, I'm selling some cards for charity at the mo (all proceeds go to charity) if anyone has any ideas on how i can do it (I can't get around easily) or wants some for a donation, please contact me.

Thank you all for your help.

[Seahorse]

I believe you register with the Inland revenue as a business then keep all receipts/VAT numbers.You either hand them over or phone up and the VAT numbers on the reciepts get you a percentage off the cost of what you have bought.

Media can explain it better.

[swirlyarts]

I also think that you are allowed to make a small amount each year from your hobby - it's about £4000 I think. I may be making that up though as my husband does all the tax etc - I come over all dozy whenever we go to see the accountant

[Seahorse]

There is no dozyness in what you speak.
I think £4000 is about right.But I assume that doesnt count if you get the £4000 allownace in your main full time job(if yuo have one like I do).
If you then started your own business do you still get the £4000 allowance on that?

[swirlyarts]

I'm not sure!! I'm sure that someone else here will know though

[Nattelie]

See, it's all really confusing, all the stuff about Tax and income etc.

I mean, I don't want anything coming back and biting me in the bum if you know what I mean? I just don't want to be spending a fortune trying to keep my arm working a little and screwing my benefits because of it, you know? The physios won't help me, so what's seemed to work best for me is crafts, esp card making.

Things like this shoud be loads simpler than they are, lol

[Seahorse]

I mean, I don't want anything coming back and biting me in the bum if you know what I mean? l

I agree, I could just see me plodding along nicely and then someone coming along sying 'oh forgot to mention you owe us £XXX for having your own business'.

Have a look on the Inland revenue site, or give them a ring.

[0103media]

Media can explain it better.

LOL...

You have to register with the Inland revenue (normally as a sole trader)

Then you need to keep all receipts.

oky.. VAT..
Now we all have to pay VAT (on almost everything)... But you only need to charge VAT (on your ideas) if your turnover about around £50k plus a yr.. But if you are charging VAT you need to be VAT registered but this allow you then to cliam back any VAT you have paid out...


Your given a 2month allowance for registering.. If you have made income before this 2 months you'll be fined...

ummm...

Thats about it really.. Its easy to set up..

[Lesley Sinclair]

Hi Natelli

Do Craft often do links with charities whereby you get a small plastic card envelope with the charities logo etc on it, you pop your handmade card into the envelope and post it off to a post free address where they will sell them in the shop. I did one recently for Marie Curie Hospice in Edinburgh. Might be worth contacting your charity directly to see if they do similar schemes.

Lesley

[craftdancer]

I hate to put a damper on the enthusiasm here, but I suspect that if you are claiming benefits you would lose all or most of them if you register either as a business or as self employed. Please check that out very carefully before you go ahead with anything. Maybe the CAB could help you work through the rules and regulations?

It is allowable to make some money from a hobby without having to declare it to the Inland Revenue (when I checked it was around £800 per annum, but may have changed now). I'm sure I found something via Google so it would be worthwhile having a hunt. Sorry I can't do it for you, I have to go out to keep an appointment.

Good luck.

[Nattelie]

Thanks for all your help everyone.

Think I might just stick with donating the stuff I make 2 charity, lol