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  • FIRST POST
    • Kimba8
    • By Kimba8 9th Jul 18, 12:50 PM
    • 1Posts
    • 0Thanks
    Kimba8
    Retired and Want to start a Business
    • #1
    • 9th Jul 18, 12:50 PM
    Retired and Want to start a Business 9th Jul 18 at 12:50 PM
    Hello, I retired at 60 and now I'm 68. I receive a state pension and a widowers allowance. I do have savings.

    I have started recently to make crochet items and people want to buy them! I could actually make a business out of it and am considering doing so.

    Would my Pension be affected or my Widowers allowance? I know I will need to register a a sole trader and do a self assessment tax return each year, but is there anything else I would need to do or pay?

    Thanks so much
Page 1
    • Dox
    • By Dox 9th Jul 18, 3:17 PM
    • 938 Posts
    • 719 Thanks
    Dox
    • #2
    • 9th Jul 18, 3:17 PM
    • #2
    • 9th Jul 18, 3:17 PM
    Won't affect your state pension. Not sure what 'Widowers Allowance' is - please could you clarify? If you are 68 you are too old to qualify for Bereavement Allowance (which is what the Widow/er's Pension was renamed), so not quite sure what it is.

    Masses of useful info at https://www.gov.uk/set-up-business

    The craft market is hugely competitive, but if you can find a niche and regular customers....very good luck.
    • liamfromleeds
    • By liamfromleeds 10th Jul 18, 11:08 AM
    • 12 Posts
    • 40 Thanks
    liamfromleeds
    • #3
    • 10th Jul 18, 11:08 AM
    • #3
    • 10th Jul 18, 11:08 AM
    Etsy is the site for crafts and getting bigger all the time, ebay craft sellers are struggling.... my little sister actually makes crochet video game characters in the states, advertises them on Etsy and does very well out of it, good luck with it
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