Starting a business whilst in a rental property

thisuseridistakenagain

I started a craft business - but it ended up as a 'cottage industry' so I didn't ever register it as I didn't need to pay tax. I just sold my handmade stuff on etsy and folksy, made less than £3000 and didn't register or declare it anywhere.

PasturesNew

thisuseridistakenagain wrote: »

I started a craft business - but it ended up as a 'cottage industry' so I didn't ever register it as I didn't need to pay tax.

You have to register it.
You have to declare the income/outgoings thus proving you don't earn enough to pay tax. You can't just decide it for yourself and do nothing.

You register.
You declare the amounts. No tax is due, so you don't pay any.
But you need to be registered/declare.

Flyonthewall

thisuseridistakenagain wrote: »

I started a craft business - but it ended up as a 'cottage industry' so I didn't ever register it as I didn't need to pay tax. I just sold my handmade stuff on etsy and folksy, made less than £3000 and didn't register or declare it anywhere.

That's not how it works. As already said, you need to declare it and register as self employed.

Just because you don't make enough to be taxed doesn't mean you don't have to declare it. You are a business and the law says you must declare it.

If you're still doing that then register asap. You're lucky HMRC hasn't already come after you.

sugarbabe84

Thank you so much everyone. So many varied responses!




I actually work fulltime so this will be extra income. I don't have problem popping to the post office to send out things, but issues might arise when I am having things returned. If there was a way of getting a P.O Box then it might not be an issue.