From Trash to Cash: the £100 to 10K Dribble thread

skintbint_2

last year pounland had crackers of watering cans like the ones on the barges with the flowers painted on them

2cats1kid

Don't send the receipts to HMRC, Wayne! You will need to ask for self-employed pages for a tax return. You'll have to declare your income and expenditure from the business venture on it, and if you send it in before the end of September they will calculate what tax you owe on it. Keep the receipts as they may ask to see them if they think you are trying to pull a fast one, but

I've been self-employed for 9 years now and they've never asked for receipts from me yet, so my figures obviously look plausible enough! Actually I suspect I could pay less tax than I do, but to do that I'd have to employ an accountant and they would probably cost more than I'd save, so I do it all myself.

jo70mo

Wayne if you go to the first page of this thread and scroll down to joey gray's link post there is a section on that for tax and benefits etc.
the first few links on that are about registering self employed and inlcude ones to hmrc.
once you get your head round that then a little bit further down the same post in the same tax section are links to what you can legitimately claim as business expenses and therefore not pay tax on.
Jo x

nikki2804

For anyone who makes cakes check out the special occasions board. Piniata (sp) cakes and cakeless cakes. Look really good!

skintbint_2

quick question how do i join the msn thingy, have set up an account and logged in how do i find anybody?

jo70mo

woohoo Dh's 6 items finished tonight and netted us £399 before fees etc. gotta love him. although he also has bought a second hand amp for £40 and is eyeing up speakers!!!
Definitely need to keep this laptop out of his hands!!!

LilacPixie

skint pm me your addy and I will add you

wayne1983

nikki2804 wrote: »

Your deffo okay to start selling as long as you notify HMRC within 3 months. Trust me I *cough cough* may be employed by them!! **Dons the hard hat :rotfl:

Oh right if ya say:o, Id be better working with a partner so i can order all the stuff and list it (just assist me on the website ), and they deal with all the 'paper work' side.
God what am i like!:o

HopeAndDriftWood

A partner would want a cut though, and with the amount you'd be asking them to do, it'd probably be more then half.
Did you read the HMRC link posted? And have you got a business plan? That's how I started.

LilacPixie

Wayne - I think you need to spend some time going thru the self employed guidance pages and chek your employers attitude to 2nd jobs before you do anything else. My employer for example will allow a 2nd job if they are notified about it but will not allow you to be a company director. Really if you get the foundations wrong it can cost you longterm.