Small Business Set Up - Querys (HELP!)

hc90

Hi, I have recently started a Facebook page selling kids clothes and am in the process of building a website. I know that I need to register as a soletrader but I'm confused as what else needs to be done.


I am currently importing clothes from China as I have found some good quality sellers on the wholesale sites, however I am now worried that this isn't legal or not allowed. I know I need to keep a record of all stuff ordered (which I have), but the items are coming through without me having to pay custom charges.


How will I put this through when I need to do a self-assessment or tax return (whichever it is I need to do). I know kids clothes don't have VAT over here but what other charges and stuff do I need to be aware of?


I am currently working full time but am due to go on maternity leave, hence why starting this small business up, to bring extra income in. How much will this affect my tax credits?


I want to do everything legit so all advice would be greatly appreciated.

bengalknights

As long as you arent selling any couterfeits there is nothing to stop you selling the clothes

Your best bet is visit local accountants to get you all ready for self employment but it is as simple as register on HMRC then keep account of income and expenditure

Robin9

Please ensure that they meet all the regulations - fire-retardant?

l1nda83

Be cautious of children's pyjamas. They come with extra regulations for fire retardant standards that day time clothes don't. Avoid anything with copyright implications like Disney characters.

c-m

With regards to tax, you do need register within 3 months of trading, but if you aren't earning huge amounts and have a day job you can pay tax through your normal PAYE.

Just keep on top of your income and expenditure and you'll be fine come self assessment time.

Try the short guide here, to help get you head around the basic requirements.

http://moneysavinganswers.com/personal/tax/making-extra-money-paying-tax/

Good luck with the venture