new year, new start

It’s a new start of the year, and a new trading year for many sole traders like myself.  But this year many friends have a new huge headache to add to the stress of being a sole trader.

Most sell knitting patterns, many have this as part of a knitting based career.  Some have already taken shops and patterns off line.  Some are just closing their doors to the EU and UK.

It is an uncertain start to the year, and as you will see for the link it’s not just knitters who will be impacted.

Thank you digital download age, it’s been nice knowing you. Thanks to the EU digital downloads will now be charged VAT in the UK and the EU wether you are in those areas or not. If you have someone downloading from those areas you will have to pay VAT, and keep details of customer for 10 years.
And next year they want to have it to apply on solid goods too.
The EU and UK just took a huge step backwards because the only threshold on selling digital downloads is £81,000, there is no low threashold for sole traders.
https://www.gov.uk/…/revenue-and-customs-brief-46-2014-vat-…

I must admit that for me it’s a new start, and a possitive outlook for me, but I’m aware that some will not be viewing the year in the same way.

 

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