Advice about business please
Discussion
Greetings
I need some advice... recently I have had a lot of interest in crafts, turns out I have a knack, I want to explore this to see where it takes me, with a view to making a bit of money out of it. I work full time, so this has to be started with a view to being part time.
First off, I would like to start an Ebay Shop, making these products, see what the market is and go from there, and if successful... my own website and advertising.
However I was wondering ...
How far you can go in a 'business' before tax is an issue, Selling stuff in an ebay shop is OK is it?
I presume businesses have to 'register' Whats the proceedure and timescales?
Can you please advise me like I know nothing, as I dont.
(I know how to budget, costs/sales, profits and anything that involves the money side of things)
Many thanks
I need some advice... recently I have had a lot of interest in crafts, turns out I have a knack, I want to explore this to see where it takes me, with a view to making a bit of money out of it. I work full time, so this has to be started with a view to being part time.
First off, I would like to start an Ebay Shop, making these products, see what the market is and go from there, and if successful... my own website and advertising.
However I was wondering ...
How far you can go in a 'business' before tax is an issue, Selling stuff in an ebay shop is OK is it?
I presume businesses have to 'register' Whats the proceedure and timescales?
Can you please advise me like I know nothing, as I dont.
(I know how to budget, costs/sales, profits and anything that involves the money side of things)
Many thanks
Thanks Eric.
I am going to fire away with a couple more Qs, hoping you are still reading, I've done a few searches for info but have no luck about running a home business alongside a FT job.
Having a full time job means this will be run in personal time, so tax on income I presume is the standard 25%, or whatever it is nowadays.
Does the tax work only on income or on other things too regarding the 'business' ?
How does one go about sourcing materials that don't cost the earth, eg. cash and carry style stationers to keep my costs down.
TIA
I am going to fire away with a couple more Qs, hoping you are still reading, I've done a few searches for info but have no luck about running a home business alongside a FT job.
Having a full time job means this will be run in personal time, so tax on income I presume is the standard 25%, or whatever it is nowadays.
Does the tax work only on income or on other things too regarding the 'business' ?
How does one go about sourcing materials that don't cost the earth, eg. cash and carry style stationers to keep my costs down.
TIA
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