News by Topic
- Search Marketing
- Email Marketing
- Loyalty Marketing
- Mobile Marketing
- Social Marketing
- Viral Marketing
- Trends & Ideas
- Internet Marketing 101
British 'home webtailers' must pay attention to insurance, tax
Millions of people in the UK now operate a business from home selling products via the Internet, according to new statistics from Direct Line for Business. However, a large number aren't up to date with their insurance needs.
Eight million people in the UK sell products they've made, or bought in, over the Internet, found Direct Line for Business. Dubbed "home webtailers", 65% (5.2 million) of these often sizeable outfits buy items to resell on at a profit. The remaining 2.8 million sell products they have crafted themselves.
The entrepreneurial spirit is alive and well in the UK. However, while developing a business plan and buying in new stock are top priorities for home webtailers, sorting tax arrangements and organizing insurance aren't deemed as important, ranking sixth and eighth in Direct Line's research.
Yet, with the top 5% of home webtailers generating a healthy annual turnover of around £18,094, many aren't aware that they may be classified as running a business from home. This has both tax and insurance implications:
- Those operating a business from home on top of other employment may need to pay tax on all turnover generated through online sales;
- Stock stored at home will not be covered by general home insurance;
- Products being transported require insurance during transit, and personal vehicle insurance may need to be revised.
Image via Shutterstock
- Top 3 annoyances for mobile shoppers
- Study: Black Millennials betting on themselves
- Top 3 tips to take Valentine's strategies year-round
- No age limit to looking for love online
- Goodbye second-screening, hello switch-screening
- Less than one-third of emails opened on desktop last year
- Ad Roundup: Platforms for sales, ecommerce
- Top 3 tips to get more from email on Valentine's campaigns
Featured White Papers
- Device of Choice for Online Shoppers & Buyers
Did you know that men shop and buy from mobile devices more than women? Being aware of nuances like this...
- 5 'Must Have' Tactics For Your 2016 Digital Marketing Plan
What are the 5 "must have" tactics that experts agree can help everyone's 2016 digital marketing?...
- Consumers Tell All, Part 1: Online Shopping Frequency
This report looks at how frequently online shoppers are making purchases....