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Arts and crafts

Discover knitting, crochet, scrapbooking and art and craft ideas on this forum.

Does anyone do craft shows? Can I ask some questions?

4 replies

ThisIsNotAIBUPeople · 21/07/2019 09:02

I am thinking of setting up a craft business and would probably do most of my selling at craft shows and fairs. I have a few questions if anyone can help.
Do you have to declare your income for tax purposes? I'd only expect to make a small amount of money as a sideline to supplement my main income.
Do you have to register as a business?
Do you need to take out any insurance of any kind?
Any advice or links very gratefully received, thanks.

OP posts:
poptypingchef · 21/07/2019 09:11

Many craft fairs (especially the better ones) expect you to provide evidence of all of the above. I have insurance to the tune of £1m and they require tax codes.

From their side it’s to ensure they are covered and that you are declaring the income. It tends to also ensure the fairs you attend get a great reputation for high standards and quality.

ThisIsNotAIBUPeople · 21/07/2019 09:14

Thank you

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OtraCosaMariposa · 27/07/2019 19:13

Can't answer on the insurance thing but I am self-employed and can comment on that aspect of it.

If you're making profit of less than £1000 a year, you don't have to register as self-employed and pay tax.

www.gov.uk/guidance/tax-free-allowances-on-property-and-trading-income

However, it depends on your circumstances. If you're concerned aobut your entitlement to a state pension, for example, you might choose to register as self-employed and pay class 2 national insurance about £2.50 a week. Depends on your situation.

Organisers of craft fairs should definitely not be asking people for tax codes. It's absolutely none of their business. Self-employed people don't have tax codes anyway, that's a PAYE thing. They don't need to "cover themselves" either, the person fiddling tax and not declaring income is the one who gets prosecuted, not the craft fair which rented them a trading space.

ThisIsNotAIBUPeople · 28/07/2019 07:47

Just seen your reply @OtraCosaMariposa thank you, very helpfulSmile

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