Photography part time

[kas1ulek172]

Hey, as probably many of you i spend some money on my photo gear and I love it
I was recently thinking maybe I could make some money on it as well? I did few bits and pieces for local school but and would like to start advertising. It all would be great if it would work out however I need to know how to make it legal. I am thinking of getting a website and do some leaflets in my area. I am not too sure if I will make some money of it at all and anyway I would only do it in my free time after work. Is it legal? can I advertise beforehand and them register business? What if I register and it does not work out? What I don't want to happen is to advertise, don't make any money and them the tax man saying you do stuff and don't declare it. Please someone help. I am only thinking of doing something occasionally.

[LaPistola]

You don't have to register a business anywhere unless you are not a sole trader which you will be. For the amount of work you seem to be suggesting you will take on will probably not even reach the threshold to where the taxman can take money from you. I forget the correct sum or even the new threshold but it used to be around £5200. So you can earn upto £5200 a year before the taxman can tax you.

As long as you submit your earnings, losses or evens to the taxman each year you will be fine.

A legal business operated as a sole trader is only illegal if your braking health and safety or criminal law. You don't even need to be VAT registered until your turn over exceeds £72000 (again rough amount - I haven't yet done my tax returns for my last tax year).

Regarding Insurance don't take my word for gospel but I think you only need public liability insurance upto 1mil min which will cost you less than £100 a year I think. You may need product insurance if your making frames for your prints.

IMO ......... just do it. Good luck!

[greenwing]

First, we don't know what country you're in. Different countries have very different rules. Hell, you haven't even consented to share your name with us.

Chris

[LaPistola]

Originally Posted by greenwing

First, we don't know what country you're in. Different countries have very different rules. Hell, you haven't even consented to share your name with us.

Chris

Solid point. I always assume im talking to people living in the UK on this forum.

My business advice is only valid for the UK.

[kas1ulek172]

Hey, first of all thank you very much for the advice I really appreciate it. And yes I am in UK and this is what I assume as well that people on this forum are living in UK but in fact this is wrong.
Thank you again.
Kasia

[greenwing]

Kasia, if you're doing this in addition to your main employment, you should inform your employer. Various reasons for this, including possible conflicts of interest, your employer may need to collect tax.

I don't think the advice above is sound - you're probably already earning over the personal allowance (is it £5200?) so anything you earn will be taxable. Of course, you can offset expenses and equipment against this. There's more about it in the DCW thread that you posted in.

Why not ask at a Citizens Advice Bureau? They're better equipped to give you factual advice than we are..

Chris

[LaPistola]

Greenwing. I own currently 3 businesses and submit returns all at the same time. One of my businesses last year only had profit of £4k ish. Although the other one (only had 2 at this time) was in far more profit than the threshold, my income tax on the £4k business came back as nothing owed.

Im no expert and advice from the official channel is far better plus it maybe different for the employed wishing to stay employed and to "moon light". However I do speak from recent experience with my companies and my tax bills.

[John H]

Why dont you contact the taxman, they have info on line and also "help" desks, they should be able to advise you, without dropping yourself in it

[kas1ulek172]

I tried Citizen advice but they hardly had any idea, they said I need to register business and have good business plan and them wait for it to be approved. As I don't have business plan I should sit down and think of one. Clearly not very helpful but yes I never thought of calling the tax man himself! of course they will have an idea of what to to and where to go.
Thank you very much
Besides that my employer knows but she never said anything about collecting any tax, I shall double check with her.
Thanks again,
Kasia

[LaPistola]

When I first decided to turn what was my hobby into a legit business the bank asked me for a business plan. So I spent days getting one ready for the meeting with the bank manager, Taken it with me all smart and rearing to go. I offered the plan but the lady wasn't interested. Sign here and a few questions not really related and off I went with my business account. No body has ever asked to see it yet, some 7 years on. My second business has another bank account and they never even ask for one then.

For sole traders not needing any loans to start up, I cant really see the need for business plans.