Selling crafts - next steps

[fridacakehole]

I'm a crafter and this year have been experimenting with selling some of my bits and bobs.

I have had a stall at 6 arts and crafts fairs and sold 6 items on Etsy. I have P&P insurance.

My outlays are about £800 and have recouped about £600.

I work full time PAYE.

I'm having fun and want to carry on. Obviously won't be giving up the day job!

I'm looking for a course or advice on the financial/legal aspects. Tax returns, registering VAT...

All the courses I see are on marketing. I'm not worried about expanding. Just want to make sure I'm doing all the legal things right so I can carry on having fun!

Any advice you can share?

Until you're turning over more than £1,000 a year, you don't need to declare the income:

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

You don't need to register for VAT until your turnover reaches £85,000:

www.gov.uk/register-for-vat

So for now, keep a good record of money out and in (a spreadsheet will do for now).

Legally you need product and public liability insurance.

This is so helpful. Thanks so much!