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  • Market Stall Taxes

    A short, simply question...

    Do market stall holders have to pay tax on their income/ profits made from their pitch?
    Budding Entrepreneur - Hundreds of good ideas and yet no time to explain them all!! Here to help in business planning and advice.

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  • #2
    Yes, assuming they are earning more than their tax free allowances.
    James Smith
    Chartered Accountant
    www.jamesesmith.co.uk

    ---------------------------
    The 8th edition of Keeping It Simple is out now, all your need to know about small business Bookkeeping, Self-Assessment & VAT and Cashflow

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    • #3
      Is there a set tax free limited, or does it depend of certain variables e.g. what's being sold?
      Budding Entrepreneur - Hundreds of good ideas and yet no time to explain them all!! Here to help in business planning and advice.

      PM for contact information!

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      • #4
        HI, I posted the limits in the other thread when you were discussing your start up.
        James Smith
        Chartered Accountant
        www.jamesesmith.co.uk

        ---------------------------
        The 8th edition of Keeping It Simple is out now, all your need to know about small business Bookkeeping, Self-Assessment & VAT and Cashflow

        Comment


        • #5
          Oh, okay thanks
          Budding Entrepreneur - Hundreds of good ideas and yet no time to explain them all!! Here to help in business planning and advice.

          PM for contact information!

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          • #6
            Originally posted by James Smith View Post
            HI, I posted the limits in the other thread when you were discussing your start up.
            Where does your tax free limit discussing thread located? I searched but not getting. Share the link of this thread.

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            • #7
              It can be found here:
              http://www.shell-livewire.org/forums...ad.php?t=28057

              You'll find that the subject doesn't really have much to do with market stalls, however I'm sure you'll find much information on here there that is beneficial to all start-up owners.

              I've also noticed that you are located in the US, the limits may be different, so take them with a pinch of salt.

              For the US business taxes, you may want to take a look at :
              http://www.irs.gov/businesses/
              Budding Entrepreneur - Hundreds of good ideas and yet no time to explain them all!! Here to help in business planning and advice.

              PM for contact information!

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              • #8
                SarahParker1 , did you find that helpful?
                Budding Entrepreneur - Hundreds of good ideas and yet no time to explain them all!! Here to help in business planning and advice.

                PM for contact information!

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