My Crochet Journal
So eating my breakfast this morning I have the usual BBC Breakfast on the TV. One of the stories they’re covering is that the HMRC are clamping down on people who trade online with intent to make a profit and not declaring it.
The advisor on the programme said that if you’re clearing out your loft to get rid of items you’ve had and used, that’s fine. However, if you buy an item with the intent to sell it online and make a profit, you are a trader and must declare it with the HMRC by June 14th 2012. This is also true for those who make things to sell them online. Approximately 32,000 letters have already been sent out to people they suspect are selling online and have not declared it.
If you create crafts and sell them online, make sure you declare it. For more information, visit the BBC website.