Am I right in thinking one has to make 29 sales per year on Folksy before you fill this in?
29 sales? I can only dream ![]()
Am I right in thinking one has to make 29 sales per year on Folksy before you fill this in?
29 sales? I can only dream ![]()
It’s 30 sales (or more) or over £1700 in sales value (for the financial year).
(Edited to add. I had to do this with 11 sales exceeding the value threshold)
(Edited again - calendar year not financial year)
A bit more info here:
know I had to fill it out
I applied to HMRC to stop sending self employment forms…(I phoned them) they are really helpful and although I have quite a few sales, my cards are only £1.25 ish each and so I don’t sell enough to qualify as self employed any more.
I also got confirmation in writing from them…my hubby taught me to always keep a paper trail which i DO and I also sent a copy to the man who used to be my accountant…sorted.
Mine says, I’ve only just read it, that it is complete! Because I filled it out last year. So pleased I don’t have to do it again as any forms send me into a tizzy!
Oh, I just noticed it’s asking for this on my dashboard now. I just did my self assessment this morning - thought I was done with HMRC for the day! ![]()
Mine says complete as well…x
It’s no big deal. Need to know your NI number though, so have that to hand.
I did this last year so haven’t had to do it this year. I made 25 sales, well below the £1700.00 threshold this year. I did 56 sales last year! I really am at my wits end not knowing what to do or what i am doing wrong. Let’s hope next year is better and Folksy get their finger out and support their sellers appropriately; one can but hope.
Where do you see says complete?
Ignore me found it, lol.
I’ve made sales over the £1700 threshold but mine says that it’s complete as I did it last year so we must only have to do it once. I do my own self assessment with HMRC but I think this was brought in by HMRC to stop people trading without being registered as self employed.
I used to be registered as self-employed years ago, but they told me I didn’t need to file returns anymore, then I stopped working for health reasons. Now I’ve started up again, and I’m doing the Abe Books thing, I think I probably need to get in touch with them, but I haven’t done it yet. I got all freaked out about it and procrastinated.
Hi Amanda, when I first left my employment and started my business I rang HMRC, spoke to a lovely man who told me everything I needed to do to get started and set everything up over the phone. For the first few years I chose to fill in a paper return then it changed to online only but it was a lot less scary than I thought.
I have a terrible anxiety reaction to phone calls (autistic/AuDHD), so I’m hoping I might be able to sort it all out online this time. I never used to mind doing the tax returns before - although my record keeping might need to get better again - it’s just the getting it all started.
Oh sorry, I didn’t realise, online will probably suit you better then. Getting started is always the hardest part isn’t it, I’ve been thinking about a website for years, have mentioned it on numerous occasions but it all seemed out of my reach and way too complicated then last night I took the plunge and asked fellow Folksy sellers for advice and I actually feel like I’m already a huge step closer to starting it now. I also know if I get stuck they will be there to help, it doesn’t seem quite as daunting now.
Filed my tax form. So was surprised to see it. I guess they need do that you’re not fiddling them.
Platforms like Folksy don’t see your tax return so they wouldn’t know you’ve filed. The info they collect and submit is automated - HMRC will pick it up and use it as a check against what you submitted - I’m assuming it’s also automated.
also confused here! I need things explained to me like I’m 5
curse autism and my need for extremely precise but clear and simple instructions !
I’m well under threshold for both the sales and the amount on folksy , never done a form never contacted hmrc.. to my knowledge we’ve never made enough but Think it might be time to sort it out and figure it all out properly somehow just to be sure!
Tricky bit is my business as a whole is under my mums name since we both run it and I was a minor when we started so it was easier to use her and her details, but my folksy shop is in my name !
So I’ve been totally lost on what to actually do because hmrc is scary to me and I’ve never understood anything relating to it
my dad normally manages the finances but I try to do it myself too but had no energy to carry on !
You might also want to check with Folksy that your items meet the criteria for a shop here.
I know things have changed recently and you can earn £1000 before you have to file a self assessment with HMRC but when I started HMRC told me I had to register with them as soon as I sold anything for profit as that’s considered trading. Do you keep records of all sales and purchases ? You have to do this regardless of the amount you sell. I’m not sure how it works now, it might be worthwhile having a look on the gov.uk website to make sure you don’t need anything in place, have Folksy asked you to fill in the HMRC form ? If online is scary to you give them a ring, when I started I rang them, told them I was thinking of working for myself and asked what i needed to do, they were really helpful and we sorted things over the telphone, it was a lot less scary than I anticipated.