What kind of woodturner are you?

[George Foweraker]

You are absolutly right.
The tax man gleens info from sites like this.
The tax man does not care what you call yourself if you are earning money he wants his tax.
And if you have a Website offering work for sale that is another way you will be spotted.

Regards George

 

[Bodrighy]

Some of you nreed to recognise that you are in business as woodturners or you are not and the amateur professional thing makes no odds to the taxman. So if you are only selling £10 a week you need to register yourselves with the Inland Revenue as proper businesses rather than being hobbyists who sell a bit on the side.

Too true. If you sell one piece a year technically you should be registered as a sole trader ad fill in the tax form. Even if you have a fulltime job. you get caught it's a big fine.

Pete

 

[myturn]

So how does selling something you've made from a piece of wood differ from re-selling something you haven't made on somewhere like ebay? You buy something, use it for a while then sell it to someone else. You are not liable to declare or pay tax on that. :?

As far as I'm concerned the tax man can go f**k himself... he'd be better spending his time chasing overpaid company executives and MP's who bend all the tax rules and pay less tax than I do rather than persecuting hobbiests who are just making ends meet.

 

[Richard Findley]

Have ticked the professional box (again !! :roll: :lol: )

I really don't know the answer on the tax man issue. As a business I have an accountant and complete a self assessment form each year (well the accountant does anyway!!). I really can't imagine the taxman being overly fussed with the odd few quid here or there at a weekend craft market. If you are employed and pay PAYE tax then he's getting his bit, the tax on what you "earn" at a craft market (especially if you are pricing too low like most :roll: ) you probably aren't making a profit anyway, and if you do, it would probably cost more in paperwork to get than it would be worth his while.

A valid point though regarding the private ebay sales etc....

Cheers

Richard

 

[Hudson Carpentry]

You need to make a profit over 5.2k ish before he will want income tax from you. If your charging less or doing a turning just for cost there will be no profit or a loss. In theory if you have a job which you pay tax and then register your turning as a business as well, if your making a loss by selling cheap on markets (not a loss in time, a loss in money) then once you declare your outgoing and incomings for the turning business he will owe you some money.

He ain't going to come after you for his 5.7p from the profit you make on a pen your selling for cost as a hobby. As a hobby your making something for yourself, deciding you no longer want you're new procession and selling it on. Those with the intention of turning something with profit in mind then its a different story.

 

[Leo]

I am in a different situation over here !

I have gained Government recognition " Artesano de Cabildo de Lanzarote " is the official title, covering all of the Canary Islands and Spain itself too, I am therefore exempt from most things and only pay half Nat. ins. etc. This is not easy to get, I can, when the economy sorts out again get grants for tools, advertising etc. I also get free stalls on markets. I am therefore in full view of the Spanish Tax man/woman too !

The only reason that I mention any of this is that, this all helps me sell at a lower price, as the tourist market expects at the moment.

If I were still in the UK. I would not be able to sell as cheaply, this help is essential to us here and should be applied in the UK. too, for any professional that produces anything near " ART ". or handmade Toys, kitchen ware etc. Just my 2c. Bl^%$ing Tax man !!!! take, take, take a bit more. !!

 

[gnu]

As a full time professional and RPT member I used to get fed up of the"I only do it as a hobby mate" brigade and yet they would be off doing shows all over the place and no doublt no declairing their income and thus contributing to the black economy resulting in the huge council cutbacks and job losses etc.
There are only a tiny handful of turners who make a living from what they sell and have to suppliment it by teaching, writing for magazines , selling tools, machines and gadgets , selling dvds and books etc etc It is a very interesting question and what I'm saying is even if you are selling a small amount of work do it on a proper business like footing.

 

[PsyMan]

Hi all,

First post, great site.

I was given a lathe in late December (Sealy SM42) bar lathe variant. Strictly amature but taken to it like a duck to water. Already looking for a variable lathe with swivel head and have spent a small fortune on chucks and tools (unbeknown to my wife)

I have had one commission for a replacement finial for a mirror and was paid handsomely with a pint of doombar, apart from that I suppose I could probably go semi professional in the animal bedding market but need a lot more practice before I would be confident enough to sell anything.



PsyMan

 

[CHJ]

Welcome to the forum PsyMan, glad to here you are hooked, here's hoping you have many hours of shavings production.

 

[nev]

i voted!
an amateur that would sell if the opp arose, not necessarily for the financial profit (loss!) but more as a sign of appreciation for the work involved and the end result. =D>

 

[Leo]

Welcome PsyMan, good bunch on here with lots of knowledge !!!

The only stupid question, is the one you don't ask and get it all wrong, so ask away and enjoy !!!!!!!!!!!