bogmonster
Established Member
Bob,
I think you are right, if you make some ad-hoc sales and declare the income then you should be fine. The Inland Revenue will want you to become a sole trader when ad-hoc becomes regular income. Sadly there is no real definition of when this is but as I was doing monthly craft fairs my Inland Revenue office wanted me to become a sole trader. If you are in the gray area AND you are declaring your income then I really doubt the Inland Revenue will fine you - after all they are still getting the tax revenue. They do take a dim view on people who are regularly trading and who don't declare it though.
As for VAT registering, not been close to a problem yet on my meagre sales
BM
I think you are right, if you make some ad-hoc sales and declare the income then you should be fine. The Inland Revenue will want you to become a sole trader when ad-hoc becomes regular income. Sadly there is no real definition of when this is but as I was doing monthly craft fairs my Inland Revenue office wanted me to become a sole trader. If you are in the gray area AND you are declaring your income then I really doubt the Inland Revenue will fine you - after all they are still getting the tax revenue. They do take a dim view on people who are regularly trading and who don't declare it though.
As for VAT registering, not been close to a problem yet on my meagre sales
BM