Boost your income, not your tax worries. Whether you're flipping vintage finds on Etsy or crafting handmade treasures on TikTok, online selling offers fantastic opportunities. But remember, with great sales come tax responsibilities. Don't wait, calculate! If your annual online profits top £1,000, filing a tax return is mandatory, even if no tax is due. HMRC keeps a close eye on popular platforms like eBay and Amazon, and they're expanding their reach to Etsy and TikTok too. Failing to report income could land you in hot water.
Don't stress, get help! Navigating tax rules can be confusing. At Short & Sons Accountants, we've supported numerous sellers like you, especially since the lockdown boom. We'll guide you through the process, ensuring you stay compliant and maximize your profits. Here's how we can help:
Identify your tax obligations: Understand if you need to file and what taxes you owe.
Simplify paperwork: Avoid the hassle with our expert filing and record-keeping.
Maximize deductions: Claim allowable expenses to reduce your tax bill.
Peace of mind: Receive expert advice and avoid getting caught with costly penalties.
Don't let tax worries cramp your side hustle style. Contact us today to bring you a stress-free and compliant future.