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I work full time, but I am
I work full time, but I am thinking about beginning to sell some items on the side (mainly through ebay or a small website) as a hobby along with some additional income. My total income from my full time job is RH202around ?40k, so I presume that any additional income would be taxed at 40% now I have breached the top end threshold. Would it therefore be better to start 1z0-048 a small business, or just detail my earnings in a standard personal tax return? What are the benifits or registering as small business as opposed to any other options? 1z0-043Â Thanks P.s Income and expenditure is most likely to be around ?5k for each. Its unlikley I'll make a profit but I know there will be tax JN0-562Â liabilities as most of my expenditure will be tied up in unsold stock at the end of the year.