[POD OPTIONS] Pages vs Cost of printing my dilemnas

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David Wake
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Re: [POD OPTIONS] Pages vs Cost of printing my dilemnas

Post by David Wake » Sat Feb 24, 2018 5:37 am

KIALea wrote:
Wed Feb 21, 2018 10:50 am
Thanks David, im in Essex, I work full time 40 hours per week so im not really a full time writer, Ill declair all book incomes, i need to have a proper research if there is a threashold for 2nd incomes etc.

In terms of all those receipts it seems a bit of a faff, but for where you say the cost of books to sell myself? I assume you dont mean i can claim the cost of those back at 4.50 a book for example? im selling for 8.99.
Probably too far to pop up to Brum every month.

If you buy 20 books at 4.50 and sell 10 at 8.99, then your expenses are 90.00 and your income is 89.90. There are places in your tax form to fill those in. And then you declare a loss of 10p. (You have stock left, which you may sell next year, but that's income in the next tax year.) This freelance work is off-set against earnings from your 40 hours a week job. So, 40 hours a week at minimum wage is an annual income of... er... (40*7.50*52) comes to £15,600. That's minus single person's allowance of £11,500 means you are taxed on £4,100 and at 20% that's £820 to pay. However, your writing made a 10p loss, so you only made £4,099.90, which is £819.98. This means that the thieving taxman owes you 2p.

Hmmm, this is a bad example as the numbers are so low, but it's how it works. Clearly you've travel to the event you sell you books at and so on to claim as well. The game is to make a galloping loss and get tax back.

The only threshold I can think of is the £85,000 for compulsory VAT. I'll have no advice on that until my jet packs for pigs project takes off.

walton
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Re: [POD OPTIONS] Pages vs Cost of printing my dilemnas

Post by walton » Sat Feb 24, 2018 6:58 am

Are you soliciting for "jet packs for pigs" . . . count me in! It sounds like a winner.
Walton

Bleeds , free, 91 page guide to bleeds, margins, covers, and annotated CreateSpace guidelines. Prepress Glossary free, 79 page, fully illustrated prepress glossary with annotations forCreateSpace users. Typography free, 112 page illustrated guide to designing books, typography, with glossary and type specimen pages. Free list of free PDF downloads.

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David Wake
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Re: [POD OPTIONS] Pages vs Cost of printing my dilemnas

Post by David Wake » Sun Feb 25, 2018 3:11 am

'Jet Packs for Pigs', a new Kickstarter Campaign. (Although, not too hard a starting kick as they are liable to explode.)

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