Angel Wholesale

Monthly Archives: August 2015

When does your business become liable for tax

Female fashion designer sitting in her office, working in progress at the tailor table, close-up.

 

 

There has been a lot of items in the media in recent months about the Government crackdown on Hobby Businesses and targeting sellers on Ebay, Etsy and other such selling channels. As I advise in my ‘Starting out Guide’ as soon as you decide to set up a business however small keep good records and keep your receipts. Most mobile devices have a scanning or camera option so if in doubt take a picture of all your receipts as well as filing the originals.Keep records of any expenditure on your business including business travel, heating, telephone calls and anything you have spent in connection with your business.

When is your Hobby Selling classed as a Business

Anything you earn above your personal tax allowance is taxable. When you run a business your income is what you have to keep after all your costs have been taken out so its important as your business grows to keep proper accounts and its a worthwhile investment paying a professional to do your business accounts and help you with your tax return.

Personal Tax Allowances

If your business reaches £82000 in turnover you also have to register for VAT. You can register voluntarily under this amount which means you can claim VAT back on VATable purchases. This is especially relevant if you mostly sell VAT zero baby items as you can then claim VAT back on all your VATable businesses purchases.

 

If in doubt about tax then there are lots of free advisory services such as The Citizen’s Advice Bureau and lots of online forums.

Instagram!

Insta-Angel is live! @angel_wholesale

NEW – Subscribe to our Youtube channel for How to Tutorials

Angel_Small_Icon

Subscribe to our Youtube channel to view our Nappy Cake Tutorials. They are very homemade and honest and will hopefully give you an idea of how to start up making nappy cakes. There are lots of different ways to make them and I hope to demonstrate a few of them over the coming months. We hope you enjoy them!

 

How Make Nappy Cakes Part 1

Nappy Cake Tutorial Part 2

How Make Nappy Cakes Part 3

Nappy Cake Tutorial Part 4

How to make Sock & Clothing Flowers

Nappy Cake Tutorial 5

 

 

 

 

Youtube!

Hi again Angels!

This is just a quick post to say that if you now scroll down to the bottom of our page you will find to the far right there is a Youtube icon! On our Youtube channel it will be mainly tutorials on ideas for creating crafty makes with our products.

Thanks,

Jayne

 

Youtube Channel – Angel Wholesale

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