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Joined 1 year ago
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Cake day: November 25th, 2023

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  • You won’t be registered for VAT - you don’t have to until revenue is over 85k. So you don’t need to charge VAT on your sales.

    You get £1k trading income tax free, anything over you need to declare via self-assessment. You can waiver the tax-free 1k if you want to deduct business expenses from your sales. Only worth doing if your costs are over £1k. The income will be taxed on top of any employment income. So if you have a full time job that has utilised your personal allowance, you’ll be taxed.