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Home › Forums › Managing Money in a Handmade Business › Tax basics for self‑employed sellers (UK‑friendly)

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  • May 12, 2026 at 11:26 am #1927
    Crafts City
    Keymaster

    If a seller earns money from CraftsCity, they are considered self-employed.

    They must register with HMRC if:

    • They earn over £1,000/year from crafting
    • They want to claim expenses
    • They want to pay into their pension

     They must complete:

    • Self‑Assessment tax return (once per year)
    • Making Tax Digital (MTD) if income is over £50,000 (from April 2026)

     What taxes may they pay

    • Income tax (based on profit)
    • Class 2 & Class 4 National Insurance
    • VAT only if turnover exceeds £90,000
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