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My daughter has started making jewellery as a hobby, and there's only so many pendants a man can wear so going to set up an etsy shop for her.
She's still at school so basically we're not expecting to be buying out Apple or Google soon, just really want to cover costs of the classes she goes to and the materials and any eBay/etsy fees
Do I need to go through the hoops to register her or does the taxman not care about the 50 quid we'll probably make a year. Or most likely 30p until she gets bored/discovers boys.?
Don't start to worry about tax until you're over 1000 quid per year (maybe higher). Is my wholly unqualified advice. I think there's actually some advice on the hmrc pages relating to hobby sales etc. I certainly didn't declare the 500 quid I earnt as a one-off job once. If that makes me a criminal then <shrug>.
selling ≠ hobby
Is she likely to exceed her tax free allowance?