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
- Report IDs differences in how people use social
- Ad Roundup: Platform expansions and a partnership
- Survey: Hispanic SMBs show strong optimism
- Ad Roundup: Partnership, integration to bring brands more
- Report: Super Bowl ads drove traffic into stores
- Top tips to reduce involuntary churn
- Smart Glasses that look like regular specs will invigorate market
- Less than 1 in 5 CRM managers feel they contribute to business revenues
Featured White Papers
- Learn Why 83% of Advertisers Are Reporting Superior Outcomes With People-Based Ads
Traditional digital display advertising doesn't work. The information in this report is based on an online survey of 350 senior...
- 2016 Email Marketing Metrics Benchmark Study
To build a world-class marketing program, it's crucial to compare yourself to the best performers - but competitor data can...
- 10 Ways to Use Customer Lifetime Value to Reinvent Your Marketing Strategy
CLV insights can help you to attract high-margin customers, target clusters of customers with untapped value, and retain high-value customers...
- 16 Innovative Loyalty Programs of 2016
Engaging customers in a loyalty program is no easy feat. Read how 16 brands grabbed headlines in 2016 by launching...