Craft forums - Part of the Crafts Directory

ALL NEW - Craft Articles



Results 1 to 4 of 4
  1. #1
    Caroleecrafts's Avatar
    Caroleecrafts is offline Senior Member Try and catch up with this one.. What a crafter!!!
    Join Date
    May 2008
    Location
    Lindford, Hampshire
    Posts
    8,630
    Rep Power
    2725

    Default What we have been waiting for

    Please note these ads will not show for registered crafts forum members.
    Click here to register...



    http://blog.thecompanywarehouse.co.u...by-businesses/

    the he comment by one man who lost everything should be a wake up call to those not legal
    Last edited by Caroleecrafts; 18-04-2016 at 07:58 PM.

  2. #2
    bodrighy's Avatar
    bodrighy is offline Senior Member Try and catch up with this one.. What a crafter!!!
    Join Date
    Mar 2009
    Location
    Home in Wiltshire
    Posts
    5,127
    Rep Power
    2006

    Default

    Have to admit that one of the things that annoys me is the fact that so many 'crafters' seem to think that it is OK to just sell stuff on the side. Apart from the fact that it is illegal it is also very frustrating for those of us who do it properly. I get sick of the comment "oh it's only a hobby" No it isn't if youare selling it is a business whether you like it or not!!!!!!!!

    Pete
    "Where the spirit does not work with the hand, there is no art" ... Leonardo Da Vinci
    Facebook

    Website


  3. #3
    MornieG Jewellery's Avatar
    MornieG Jewellery is offline Senior Member Try and catch up with this one.. What a crafter!!!
    Join Date
    Feb 2010
    Location
    Bromham, Wiltshire.
    Posts
    7,137
    Rep Power
    1865

    Default

    Another reply says he has been trading for a couple of years and hasn't recouped his setup costs yet so does he have to declare to HMRC................ DOH YES !!!!

    I do much less crafting and selling than I used to but am still registered with HMRC and declare every bit of extra money I get from design fees, the odd fair etc even if my outgoings exceed my income. No brainer to try and dodge them and it's not as if it's difficult to send in your return. If you get bigger get an accountant, plenty around who should pay for themselves anyway.

    Mo.XX

    Mo.XX
    Mo. MornieG Jewellery.
    Being deeply loved by someone gives you strength, while loving someone deeply gives you courage..Lao Tzu.
    https://twitter.com/#!/AuntieMornie

  4. #4
    craftdancer is offline Senior Member Super mega big crafter
    Join Date
    Jan 2006
    Posts
    4,958
    Rep Power
    1825

    Default

    Quote Originally Posted by MornieG Jewellery View Post
    Another reply says he has been trading for a couple of years and hasn't recouped his setup costs yet so does he have to declare to HMRC................ DOH YES !!!!

    I do much less crafting and selling than I used to but am still registered with HMRC and declare every bit of extra money I get from design fees, the odd fair etc even if my outgoings exceed my income. No brainer to try and dodge them and it's not as if it's difficult to send in your return. If you get bigger get an accountant, plenty around who should pay for themselves anyway.
    I have been registered with HMRC from long before I started selling my craft work. Since I ceased my full time paid employment I have received a refund on tax paid every single year (and not insignificant amounts either) because my annual income has been less than the personal allowance - even in the few years when I have actually had a slight profit on the craft sales over the year.

    It has been of financial benefit to me to be registered with HMRC, and it takes much less than an hour to find the information needed and transfer it to the tax return each year.

    Linda

Thread Information

Users Browsing this Thread

There are currently 1 users browsing this thread. (0 members and 1 guests)

Similar Threads

  1. The waiting game...
    By JenR in forum Candles and candle making
    Replies: 53
    Last Post: 08-03-2013, 10:03 PM
  2. What are you waiting for?
    By beadsbydesign in forum General
    Replies: 16
    Last Post: 31-05-2011, 07:17 PM
  3. I hate waiting!
    By nicksyb in forum Non crafts related..
    Replies: 2
    Last Post: 24-10-2010, 12:19 AM
  4. What are you waiting on?
    By agnes15 in forum Non crafts related..
    Replies: 36
    Last Post: 25-03-2010, 10:17 PM

Bookmarks

Posting Permissions

  • You may not post new threads
  • You may not post replies
  • You may not post attachments
  • You may not edit your posts
  •