Hi everyone,
I know there is a million threads regarding starting your own nail business however after reading some of them, I'm just so confused!!
I work full time as a teacher and wish to follow my dream in setting up a " very small" mobile/home based little business as a side line to my teaching. I have trained in Calgel and have a few friends and family who's nails I do, however by word of mouth my name is "getting about" and had other people message me asking to do their nails. I have been doing, but feel like its really cloat and dagger. I have all the equipment I need and I'm desperate to advertise etc. however I'm just so conscious I'm not registered with the tax man.
My main question is that I have no issue with setting up "properly" however I'm concerned that the few nails I do will cause me to make no profit as I will end up giving it all to the tax man. I currently only make on average around £60 per week on nails (that's not taking into account costs etc). But I know that even £20 is classed as an income.
I currently earn £26000 In my full time teaching job - will this effect the tax I pay on my "business"?
where do I start - I want to hold my head high and know I am doing things properly.
Thanks so much!
K x
I know there is a million threads regarding starting your own nail business however after reading some of them, I'm just so confused!!
I work full time as a teacher and wish to follow my dream in setting up a " very small" mobile/home based little business as a side line to my teaching. I have trained in Calgel and have a few friends and family who's nails I do, however by word of mouth my name is "getting about" and had other people message me asking to do their nails. I have been doing, but feel like its really cloat and dagger. I have all the equipment I need and I'm desperate to advertise etc. however I'm just so conscious I'm not registered with the tax man.
My main question is that I have no issue with setting up "properly" however I'm concerned that the few nails I do will cause me to make no profit as I will end up giving it all to the tax man. I currently only make on average around £60 per week on nails (that's not taking into account costs etc). But I know that even £20 is classed as an income.
I currently earn £26000 In my full time teaching job - will this effect the tax I pay on my "business"?
where do I start - I want to hold my head high and know I am doing things properly.
Thanks so much!
K x