A quick point as I'm about to start working out which books on the store are deleted first.
I was asked why I don't set up in a market somewhere?
Firstly, you need to pay for your table/stall and that can be well in excess of £1000 per year. Then you have all the other expenses which your sales will need to cover before tax.
Secondly, and please take note if you go to comic events and sell books there. In the UK the local authority sets the limit on the amount of insurance coverage you will need. In Bristol you need to have £3 million pounds coverage. Market traders insurance covers you for up to £5 million.
Now, the organiser of an event needs insurance coverage. If you are trading then YOU need to be paying for insurance coverage or you are in trouble. Its no good saying "It's a hobby!" One check of events will show how many you go to and sell at. That is NOT a hobby, as it was explained to me a few years back, that is business. You see, a box or bag or even a table cloth or a banner at your table is involved in an accident then YOU are liable and if you don't have insurance and go to court....
Also, back to why not market trade, you need to buy in your stock. You need to make a good turn over and in the UK that will not happen. Sell Marvel and DC and other junk at inflated prices you're okay but Independent stuff -no.
And Her Majesty's Inspector of Tax and Revenue has cottoned on to the "hobbyists" making money at events. Don't be surprised if this year a person from said office introduces themselves to you.
Ask the publishers of Wasted what happens when you try to cheat the tax man.
I was asked why I don't set up in a market somewhere?
Firstly, you need to pay for your table/stall and that can be well in excess of £1000 per year. Then you have all the other expenses which your sales will need to cover before tax.
Secondly, and please take note if you go to comic events and sell books there. In the UK the local authority sets the limit on the amount of insurance coverage you will need. In Bristol you need to have £3 million pounds coverage. Market traders insurance covers you for up to £5 million.
Now, the organiser of an event needs insurance coverage. If you are trading then YOU need to be paying for insurance coverage or you are in trouble. Its no good saying "It's a hobby!" One check of events will show how many you go to and sell at. That is NOT a hobby, as it was explained to me a few years back, that is business. You see, a box or bag or even a table cloth or a banner at your table is involved in an accident then YOU are liable and if you don't have insurance and go to court....
Also, back to why not market trade, you need to buy in your stock. You need to make a good turn over and in the UK that will not happen. Sell Marvel and DC and other junk at inflated prices you're okay but Independent stuff -no.
And Her Majesty's Inspector of Tax and Revenue has cottoned on to the "hobbyists" making money at events. Don't be surprised if this year a person from said office introduces themselves to you.
Ask the publishers of Wasted what happens when you try to cheat the tax man.
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