Turn £100.00 into £10.000.00+ by the end of 2010 official thread PART 2

EMminently

It didn't work

munchki

skintbint wrote: »

thanks for taking the time
these are the ones i did for christmas - had never done one until October and the footballer was the first
http://www.photobox.co.uk/my/album?album_id=275854616

The cakes are fab! and I was just saying to my partner last night that I would like to go away with a friend etc for a weekend course in something like this!!!

skintbint_2

EMminently wrote: »

It didn't work

should work now ( am useless with this type of thing)
http://www.photobox.co.uk/my/album?album_id=275854616

LittleMissHappy_2

They are really beautiful, Richbint....and I am procrastinating!!!

Anything, anything, anything to avoid the dreaded packing.....

skintbint_2

munchki wrote: »

The cakes are fab! and I was just saying to my partner last night that I would like to go away with a friend etc for a weekend course in something like this!!!

sounds good magaluf, tenerife, torremolinos, ? pick where and i'll meet you!!!!

skintbint_2

LittleMissHappy wrote: »

They are really beautiful, Richbint....and I am procrastinating!!!

Anything, anything, anything to avoid the dreaded packing.....

move it - think of the money - bad feedback less chance of sales less chance of £10k

EMminently

Wow they're ace Richbint! You're really creative, i bet it's really good fun designing and making them. You should definitely teach, so others can share in your talents. Thanks for sharing the pics x

deq123

Hi

I used to work full time and paid the usual tax & ni etc....

I also worked part time from home on a self employed basis, all I did was ring the tax office and tell them, they sent me a tax return to fill in at the appropriate time, on this form (you can do it online now as well) I filled in the details from my P60 (all money earnt and tax paid from my full time income) then three figures from my self employment, turnover, outgoings, profit/loss, they then worked out how much extra tax I need to pay and I paid it!!

I would put away a % of any money that I earnt into a separate account (I provided a service that was mostly my time so not a lot of outgoings) around 25% of my invoices, but this will be different if you are buying and selling. I didnt pay any more NI apart from my full time wages.

I then went full time self employed around 2 years ago, rang them again and told them, and I now pay NI every month and do my self employment assessment every year.

HTH

BlueCow1975 wrote: »

Right folks, can I just have a little bit of "general" advice here.

Just had a minor disagreement (ok - blazing row :rotfl:) with my husband about E Bay and registering as a business. As far as I can see if I intend to buy things to sell on at a profit then I need to register as a business on E Bay and also declare this to the taxman, which invloves declaring being self employed and filling in an annual self assessment form. I am just getting my head around this, but figured I will then need to pay tax on profit only & obviously VAT issues won't affect me as nowhere near the limit for that.

I am already employed and pay tax and NI via my employer, so not sure if I have to make any extra NI contributions.

My husband has flipped over the prospect of me doing the above, calling me "stupid" :mad: (don't worry.....he will pay dearly for that remark ). He is ranting on how all this will result in him having to pay more tax (my perception - utter rubbish!), the potential loss of child tax credits (which currently around £34 a month anyway) and he said I may get taxed more in work - which I cannot see being the case?

He is basically saying stay as you are (ie private user) and do not register as a business for the small amount of buying and selling that I would potentially be doing anyway. He then gave me the "everyone is on e bay and not declaring tax" rant. He then stomped upstairs muttering something about all this hassle to make 30p a week etc etc etc :mad::mad::mad:

Just wondered what peoples thoughts are really and if anyone can give me a little pointer as to how lengthy / hassle like the process is. My perception was that it was fairly straight forward - few forms, keep your records, fill in annual form, pay tax bill in profit & job done. Am I being niave?

Apologies if these issues are already covered in length but I am STILL only catching up on Thread 1 lol!!

munchki

skintbint wrote: »

sounds good magaluf, tenerife, torremolinos, ? pick where and i'll meet you!!!!

hehehe do they really do them there??? Tenerife that is! Tell ya what, if I get this contract I am going after in the morning you might just have a date lol! I would love to learn more about it to be honest.

moneymabel

Your cakes are brill skintbint! I love the penguins :-)