We'd like to remind Forumites to please avoid political debate on the Forum. This is to keep it a safe and useful space for MoneySaving discussions. Threads that are - or become - political in nature may be removed in line with the Forum’s rules. Thank you for your understanding.
Tax Return Help

Chuzzle
Posts: 625 Forumite

Hi, I'm employed full time, but I also make jewellery and sell it at local craft fairs. I am now due to fill in my 3rd tax return. I don't sell much :-( and because of this my outlay is always more than my income. I registered self employed at the beginning as I didn't want to lose sleep worrying lol. I don't see my jewellery ever making me enough money that I can give up my day job!
My question is do I really need to fill in a tax return each year? Its really only a hobby.
My question is do I really need to fill in a tax return each year? Its really only a hobby.
Banana Lovers
Buy your bananas in bunches of 5 on Sunday. Then arrange them in order of ripeness and write a day of the week on each banana in felt pen, Monday on the ripest, Friday on the greenest to save time making those decisions on a hectic weekday morning
0
Comments
-
Hi, I'm employed full time, but I also make jewellery and sell it at local craft fairs. I am now due to fill in my 3rd tax return. I don't sell much :-( and because of this my outlay is always more than my income. I registered self employed at the beginning as I didn't want to lose sleep worrying lol. I don't see my jewellery ever making me enough money that I can give up my day job!
My question is do I really need to fill in a tax return each year? Its really only a hobby.
Yes, you do because what you do is constituted as a business - you sell things.
Doesn't matter if you make a profit or not, you still have to do it, at least until April when the new microbusiness rules come in which you may fit into.0
This discussion has been closed.
Confirm your email address to Create Threads and Reply

Categories
- All Categories
- 348.2K Banking & Borrowing
- 252.1K Reduce Debt & Boost Income
- 452.4K Spending & Discounts
- 240.8K Work, Benefits & Business
- 617.1K Mortgages, Homes & Bills
- 175.6K Life & Family
- 254K Travel & Transport
- 1.5M Hobbies & Leisure
- 16K Discuss & Feedback
- 15.1K Coronavirus Support Boards