Hi! I’ve got a quick question. I knit and crochet things like little stuffed toys, blankets, anything I can think of really. I sell these online and to friends/family. My pension gets me about £11,000 a year, and I can live on that comfortably (own house, cheap area, don’t need to buy tons). However I was wondering if these sales are taxable? According to this salary tool the personal allowance my pension is only just below that amount. Will I need to worry about having to pay tax on the money I make?
If you don’t receive an answer from another seller, you might want to contact your tax office or your city tax collector. If you do have to pay tax, you can adjust your website to advise potential customers Good Luck
I suggest contacting your tax office or IRS to make sure you get the correct answer for your country.
As far as I know, any income from sales of goods etc, is taxable over and above your normal tax free allowance. If you are making items for sale on a regular basis, then it would be prudent to contact your tax office and as advice. But for one item, It’s not worth risking.