Author Topic: Tax  (Read 1020 times)

Tinker

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Tax
« on: May 31, 2015, 09:55:52 PM »
I'm sure most have seen this by now and if you're registered for tax there's nowt to worry about but it was only a matter of time before this happened!
http://www.telegraph.co.uk/finance/personalfinance/household-bills/11632478/HMRC-targets-Etsy-eBay-and-Gumtree-sellers-but-when-is-your-hobby-taxable.html

Blue Box Studio

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Re: Tax
« Reply #1 on: May 31, 2015, 11:53:57 PM »
Good!  You buy or make to sell and you are a business.  Either we all pay tax (if legitimately due) or none of us do, I'm all for a level playing field.

Did you read the comments to the article?  Wouldn't mind the profit some of them were making in the article - but then I actually make something, not buy in cheap and sell it on.  More fool me, obviously.  Having read a lot of Etsy related emails recently, seems the only people making much money are the resellers.
Sue ~ Blue Box Studio ~ see website for outlets
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Kayleigh

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Re: Tax
« Reply #2 on: June 01, 2015, 10:09:05 AM »
I agree that if you make to sell you should be taxed, or at least registered as a business and do tax returns and pay the tax if you owe it. I current;y don't make enough money to pay the ta, but I am registered.

It is hard to tell when a hobby become a business though I think. If you just make mostly for yourself, then sell the odd thing becuase someone asked you to make it for them, should that be taxable?

awrylemming

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Re: Tax
« Reply #3 on: June 01, 2015, 11:14:56 AM »
I think those earning huge amounts are very much in the minority - amuses me that as usual HMRC are going after the small people while huge corporations get away with millions in unpaid taxes.  Makes it look like they're doing their job better?
My mum has just been through 2 years of hassle with them, where they told her she owed 660 from a time where she was working 2 jobs.  She never did.  So, she has been fined, bombarded with letters over the 2 year period, phoned and harassed and now they owe her over 2,000 in overpaid tax plus interest plus she is going after them for time wasted dealing with it.  Hmmm.  How much cash did they waste going after the 660  ::)  And the first letter arrived just after she got home from hospital after a major heart attack.

GaysieMay

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Re: Tax
« Reply #4 on: June 05, 2015, 05:30:35 PM »
I agree Sue, they should target the big tax avoiders and corporates. I also agree with the other Sue, if you sell you should pay tax, some hobbyists sell their work often at low prices to fund their hobbies which is really damaging to those of us trying to make a living and paying tax on our sales.

jille

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Re: Tax
« Reply #5 on: June 06, 2015, 07:24:39 PM »
I agree Sue, but when I was first employed as a knitwear designer the tax man pulled figures from thin air saying I would be estimated in earning x amount and paying thousands in tax. I was totally put off even when sorted and I closed my business then.
I declare everything in my tax returns and couldn't take the stress if i didn't. If you don't earn enough you don't pay tax. I just wish they would target the big fish as well, and the off shore tax avoiders too