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    • Farmer92
    • By Farmer92 12th Apr 18, 10:11 AM
    • 2Posts
    • 0Thanks
    Farmer92
    Small business but thinking of 2nd business to boost earnings
    • #1
    • 12th Apr 18, 10:11 AM
    Small business but thinking of 2nd business to boost earnings 12th Apr 18 at 10:11 AM
    Hi all,

    First post on here. Thought it would be the best place to come.

    My son got really ill a few years back which made me think about life and I decided I needed a change. So i decided to go self employed and started a small gardening/maintenence business. It's great through the summer months but winter can be a grind. Was thinking about a possible second business selling on eBay etc.

    Just wondering if I would need to register this 2nd business or is it sort of an extension to what I already do. Earnings aren't huge by any stretch. Was just thinking of saving some cash and starting off with a few 100 to go to a wholesale and buy bits and bobs to start selling to make the winter months a bit better and see where it goes from there.

    Any information or help is greatly appreciated.

    Thanks,

    Farmer92
Page 1
    • Savvy_Sue
    • By Savvy_Sue 12th Apr 18, 10:23 AM
    • 38,375 Posts
    • 34,966 Thanks
    Savvy_Sue
    • #2
    • 12th Apr 18, 10:23 AM
    • #2
    • 12th Apr 18, 10:23 AM
    If it's all still just you as a sole trader then no, you don't need to register it separately with HMRC. All they care about is your taxable income from all sources.

    However, unless you have a particular 'niche' in mind which isn't well met elsewhere I'm not sure you'll make that much money off Ebay: my understanding is that it's cutthroat out there. If you can get this stuff from a wholesaler, so can anyone else. To sell it at enough profit to cover postage etc means a tiny margin if you've got any competition at all.

    Take a look at the Ebay board if you've not yet found that.
    Still knitting!
    Completed: 1 adult cardigan, 3 baby jumpers, 3 shawls, 1 sweat band, 3 pairs baby bootees,
    1 Wise Man Knitivity figure + 1 sheep, 2 pairs socks, 2 hats 2 balaclavas for seamen, 1 balaclava for myself ...
    Current projects: Poppies, mohair cardigan pattern on order...
    • Farmer92
    • By Farmer92 12th Apr 18, 10:39 AM
    • 2 Posts
    • 0 Thanks
    Farmer92
    • #3
    • 12th Apr 18, 10:39 AM
    • #3
    • 12th Apr 18, 10:39 AM
    Thanks for getting back and answering my questions :-)

    Yeah i get what you mean. It is there for anyone to get their hands on. May have to have a longer think at what I can do. Ill also take a look at the eBay board.

    Thanks again
    • Percy1983
    • By Percy1983 13th Apr 18, 12:50 AM
    • 4,971 Posts
    • 7,820 Thanks
    Percy1983
    • #4
    • 13th Apr 18, 12:50 AM
    • #4
    • 13th Apr 18, 12:50 AM
    As above if self employed its just more income, I trade under 4 names as self employedand have one self assessment to do.

    As for ebay, think differently. If there is things you know about you can buy and sell for a profit. I often buy computer/photography equipment in bulk, test/clean and sell seperately for a profit. Of course for this to work you really need to know what you are looking at.
    Have my first business premises (+4th business) 01/11/2017
    Quit day job to run 3 businesses 08/02/2017
    Started third business 25/06/2016
    Son born 13/09/2015
    Started a second business 03/08/2013
    Officially the owner of my own business since 13/01/2012
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