ChatterBank0 min ago
Selling art on ebay
2 Answers
I have done a few art paintings recently when I was bored, and people that have seen them have since said 'why don't you try selling them on ebay and earn a bit of extra cash.'
I'm by no means a successful artist and have absolutely no reputation as a seller within the art industry, but people have told me that there are people out there that will buy an orginal painting at reasonable price no matter who its produced by..........if they like it obviously.
I know I may be clutching at straws but I'm keen to give it a try to earn a bit of extra cash.
What I want to know though, Is would I be classed as a business? therefore need to pay tax. etc?.....If so, is it complicated setting yourself up as a part time business on ebay......and paying your own taxes and what not?
I don't plan to sell loads, and I don't expect to make a load of money because I know I won't, but my plan is to sell 2 or 3 a month at a price of about £10-15 to start with and they would be normal poster size. would it be worth it or am I wasting my time?
thanks
I'm by no means a successful artist and have absolutely no reputation as a seller within the art industry, but people have told me that there are people out there that will buy an orginal painting at reasonable price no matter who its produced by..........if they like it obviously.
I know I may be clutching at straws but I'm keen to give it a try to earn a bit of extra cash.
What I want to know though, Is would I be classed as a business? therefore need to pay tax. etc?.....If so, is it complicated setting yourself up as a part time business on ebay......and paying your own taxes and what not?
I don't plan to sell loads, and I don't expect to make a load of money because I know I won't, but my plan is to sell 2 or 3 a month at a price of about £10-15 to start with and they would be normal poster size. would it be worth it or am I wasting my time?
thanks
Answers
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I would have thought that the taxman would be interested in any income you make. Also my thought would be that you don't know how well or otherwise this will go so from a life experience point of view you may consider it worth doing anyway, rather than wonder if you could have made a go of it. That said you should consider the time taken and the price asked for to see if your enthusiasm is likely to remain high.
Yes. If you are painting for the purposes of selling the painting then you are by definition trading in it and any profit (you can offset the costs of paints, canvas, etc) would be taxable.
In practice, it's unlikely anyone would notice at the sort of values you are talking about so it's up to your own conscience whether you wish to bother registering. If you have no other significant income then it wouldn't be taxable anyway. If you have a job then it would probably be fully taxable. You can avoid NI on the grounds of de minimis though.
In practice, it's unlikely anyone would notice at the sort of values you are talking about so it's up to your own conscience whether you wish to bother registering. If you have no other significant income then it wouldn't be taxable anyway. If you have a job then it would probably be fully taxable. You can avoid NI on the grounds of de minimis though.
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