Budget 2016

winspiration

tonehtigah wrote: »

Thanks for the info, and helping out a newbie!

I did know it didn't come into effect until next year, but getting myself bogged down over the last few weeks thinking about it and what would count and not count I seemed to have totally forgotten that fact!

Looks like I will put my thoughts of making and selling on hold for a year.

You're welcome

Why do you need to defer it? It isn't that difficult filling out a tax return and if you're starting up, you may not make a profit anyway in your first year by the time all expenses are taken into account. If the business takes off, you'll want to make more than the £1000 anyway, I would have thought?