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Nationwide has two upcoming payments to its customers – but do you qualify, and could it net you £150 free in your bank account this year?

The Thank You £50

The first payment is a one-off £50. That’s because Nationwide customers – who are also its shareholders, because it’s a building society – supported the merger of Nationwide and Virgin Money. Now, Virgin customers are part of the Nationwide family. As a ‘thank you’ for supporting the acquisition, Nationwide customers will get the £50.

To be eligible for the payment, you need to have been a Nationwide member on or before 30th September 2004, and still have an account now. You must also have:

• had at least one qualifying transaction on your current or savings account, or
• owed at least £100 on one or more Nationwide residential mortgages, or
• held at least £100 in total in one or more of your Nationwide current or savings accounts.

If you switched to Nationwide before you could make any of these transactions or hold these amounts, you still qualify if you switched accounts using the Current Account Switch Service between 1st July and 30th September 2024.

It is worth noting that this bonus is treated as interest for tax purposes, so while most people won’t need to acknowledge it on a self assessment form, if you pay tax on your interest as a higher rate earner or as you have earned more than £1000 interest in a year, you’ll need to include this payment in your calculations.

The Nationwide Fairer Share £100 Payment

This one hasn’t been guaranteed yet but it has happened in the last two years and looks likely once again. It’s a £100 bonus that is paid to qualifying customers with a Nationwide current or savings account and/or a residential mortgage. If you have any of these, don’t close your account! They usually announce at the end of the tax year whether the Fairer Share payment will be paid, as well as the eligibility requirements – but one of those requirements will definitely be that you must still hold a Nationwide account at the time the payment is made in the spring.

The post Could You Get £150 From Nationwide? appeared first on MoneyMagpie.

Original source: https://www.moneymagpie.com/make-money/could-you-get-150-from-nationwide

Nationwide has two upcoming payments to its customers – but do you qualify, and could it net you £150 free in your bank account this year?

The Thank You £50

The first payment is a one-off £50. That’s because Nationwide customers – who are also its shareholders, because it’s a building society – supported the merger of Nationwide and Virgin Money. Now, Virgin customers are part of the Nationwide family. As a ‘thank you’ for supporting the acquisition, Nationwide customers will get the £50.

To be eligible for the payment, you need to have been a Nationwide member on or before 30th September 2004, and still have an account now. You must also have:

• had at least one qualifying transaction on your current or savings account, or
• owed at least £100 on one or more Nationwide residential mortgages, or
• held at least £100 in total in one or more of your Nationwide current or savings accounts.

If you switched to Nationwide before you could make any of these transactions or hold these amounts, you still qualify if you switched accounts using the Current Account Switch Service between 1st July and 30th September 2024.

It is worth noting that this bonus is treated as interest for tax purposes, so while most people won’t need to acknowledge it on a self assessment form, if you pay tax on your interest as a higher rate earner or as you have earned more than £1000 interest in a year, you’ll need to include this payment in your calculations.

The Nationwide Fairer Share £100 Payment

This one hasn’t been guaranteed yet but it has happened in the last two years and looks likely once again. It’s a £100 bonus that is paid to qualifying customers with a Nationwide current or savings account and/or a residential mortgage. If you have any of these, don’t close your account! They usually announce at the end of the tax year whether the Fairer Share payment will be paid, as well as the eligibility requirements – but one of those requirements will definitely be that you must still hold a Nationwide account at the time the payment is made in the spring.

The post Could You Get £150 From Nationwide? appeared first on MoneyMagpie.

Original source: https://www.moneymagpie.com/make-money/could-you-get-150-from-nationwide

Home Business Magazine Online

Key Takeaways:

• Discover effective methods to reduce your energy bills without sacrificing comfort.
• Discover how minor adjustments in everyday routines can result in substantial savings.
• Explore various technologies and tools that aid in energy efficiency.

Table of Contents:

1. Introduction to Energy Cost Reduction
2. Simple Daily Habits to Save Energy
3. The Importance of Energy-Efficient Appliances
4. Embracing Smart Technology
5. Insulation and Weatherproofing
6. Renewable Energy Options
7. Seasonal Energy-Saving Tips
8. Government Incentives and Programs
9. Conclusion and Final Thoughts

In an era where energy consumption is steadily increasing, finding ways to reduce electricity bills is more critical than ever. So, the question is, how to reduce electricity bill? Rising utility costs have become a pressing concern for many households, making energy savings not just an option but a necessity. Despite various economic challenges, adopting a few practical strategies can significantly reduce your home energy costs without compromising comfort. From simple habit changes to adopting smart technologies, there are multiple avenues to explore for energy savings, promoting both financial savings and environmental conservation, which has become an important part of responsible living today.

Introduction to Energy Cost Reduction

The escalation of energy costs has made managing household budgets more challenging, significantly damaging many families. It is essential to understand that reducing energy consumption is a smart economic choice and an environmentally responsible decision. In 2020, the average household in the U.S. spent around $2,060 on home utility bills, according to the Energy Information Administration (EIA). The data underscore the significance of addressing energy consumption as a financial and environmental priority. By being mindful of the energy we use, we can make a positive impact on both our wallets and the planet. This shift in approach can foster a culture of sustainability and responsible living, especially as global awareness increases about the importance of reducing carbon footprints.

Simple Daily Habits to Save Energy

Simple habitual changes can lead to significant energy savings, accumulating over time and creating a considerable impact. Consider turning off lights when exiting a room as a basic yet impactful practice. Unplugging chargers and electronics when not in use is also beneficial to prevent unnecessary energy draw, commonly known as phantom energy. This invisible draw can account for up to 10% of your electricity bill, making it a crucial area to address. Reducing your thermostat by merely one degree during colder months can contribute to noticeable savings over time, as heating and cooling make up a significant portion of household energy use. These small adjustments require minimal effort but result in impactful reductions in your energy bill, transforming habitual actions into powerful savings strategies.

The Importance of Energy-Efficient Appliances

Investing in energy-efficient appliances can offer long-term savings and is a wise step towards reducing household energy consumption. Numerous devices are equipped with an energy rating label, which indicates their efficiency; the higher the rating, the more you’ll save in the long term. For example, Energy Star-certified appliances are made to use 10% to 50% less energy than regular appliances. Replacing older models with modern, energy-saving ones can significantly reduce energy consumption in your home, contributing to your budget savings and a more sustainable lifestyle. Additionally, choosing energy-efficient appliances can reduce greenhouse gas emissions, aligning personal financial goals with broader environmental objectives.

Embracing Smart Technology

With the advent of smart technology, managing home energy use has become easier than ever, offering seamless integration into daily routines. Smart thermostats and automated light systems allow you to control energy consumption remotely, resulting in substantial savings without compromising convenience. Many of these devices can adapt to your routine, learning your preferences over time and optimizing energy use accordingly. Smart meters also help track energy usage, providing insights that can help maximize consumption patterns and adjust habits accordingly for better savings. By leveraging smart technologies, homeowners can witness an evolution in how they interact with energy use, unlocking new potential for efficiency and savings.

Insulation and Weatherproofing

Proper insulation prevents energy loss, especially in older homes with common drafts and leaks. Insulation is a barrier to heat movement, preserving warmth in your house during winter and keeping it cool in summer, and is frequently the greatest factor in energy costs. Ensure your home is well-insulated, with attention paid to the attic, walls, and crawl spaces, which are common escape routes for heat. Basic weatherproofing techniques, such as using draft stoppers for doors and sealing windows, can enhance energy retention by minimizing air leaks. These improvements increase comfort and extend the lifespan of your heating and cooling systems, providing dual benefits of savings and equipment longevity.

Renewable Energy Options

Exploring renewable energy options can drastically cut utility bills and reduce dependency on conventional energy sources. These environmentally friendly options, although initially costly, provide enduring savings and diminish dependence on traditional electricity sources. Solar panels, for instance, can reduce electricity bills by about 50% to 90%, depending on the overall efficiency and usage. Incorporating such technologies into your home can increase property value and contribute to a greener future. Learn more about solar panel benefits for residential areas, and see how these sustainable solutions can fit into your energy strategy, promoting a more independent and eco-friendly lifestyle.

Seasonal Energy-Saving Tips

Adapting your energy-saving strategies to the seasons can maximize their effectiveness, ensuring year-round efficiency. In winter, sunlight is allowed into naturally warm spaces, while in summer, using fans or cross ventilation can significantly reduce air conditioning use, cutting costs effectively. Adopt seasonal habits like wearing warmer clothing indoors during colder months and using blackout curtains in the summer to prevent solar heat gain. These intuitive, often cost-free steps go a long way toward improving energy use efficiency.

Government Incentives and Programs

Various programs offer rebates or incentives for adopting energy-efficient measures, which can alleviate the initial investment costs of energy-efficient appliances or renewable energy installations. These initiatives, often issued through local government partnerships or federal energy programs, aim to make sustainable living accessible to a broader audience. Stay informed about available incentives in your area, as these programs vary by region and are subject to change, thus adding an extra dimension of financial planning to your energy-saving efforts.

Conclusion and Final Thoughts

Reducing your home energy costs is achievable with multiple benefits, ranging from financial savings to environmental impact. By implementing the strategies discussed, you can decrease utility bills while contributing positively to ecological conservation. The journey to energy efficiency starts with small changes, such as daily habits, and extends to larger investments like smart technology and renewable energy systems. Begin with minor adjustments and progressively take on additional significant measures to make a lasting impact on your energy consumption. It’s time to take control of your energy costs and embrace an efficient, sustainable future.

The post Practical Strategies for Cutting Down on Home Energy Costs appeared first on Home Business Magazine.

Original source: https://homebusinessmag.com/money/cutting-costs/practical-strategies-cutting-down-home-energy-cost/

Home Business Magazine Online

Key Takeaways:

• Discover effective methods to reduce your energy bills without sacrificing comfort.
• Discover how minor adjustments in everyday routines can result in substantial savings.
• Explore various technologies and tools that aid in energy efficiency.

Table of Contents:

1. Introduction to Energy Cost Reduction
2. Simple Daily Habits to Save Energy
3. The Importance of Energy-Efficient Appliances
4. Embracing Smart Technology
5. Insulation and Weatherproofing
6. Renewable Energy Options
7. Seasonal Energy-Saving Tips
8. Government Incentives and Programs
9. Conclusion and Final Thoughts

In an era where energy consumption is steadily increasing, finding ways to reduce electricity bills is more critical than ever. So, the question is, how to reduce electricity bill? Rising utility costs have become a pressing concern for many households, making energy savings not just an option but a necessity. Despite various economic challenges, adopting a few practical strategies can significantly reduce your home energy costs without compromising comfort. From simple habit changes to adopting smart technologies, there are multiple avenues to explore for energy savings, promoting both financial savings and environmental conservation, which has become an important part of responsible living today.

Introduction to Energy Cost Reduction

The escalation of energy costs has made managing household budgets more challenging, significantly damaging many families. It is essential to understand that reducing energy consumption is a smart economic choice and an environmentally responsible decision. In 2020, the average household in the U.S. spent around $2,060 on home utility bills, according to the Energy Information Administration (EIA). The data underscore the significance of addressing energy consumption as a financial and environmental priority. By being mindful of the energy we use, we can make a positive impact on both our wallets and the planet. This shift in approach can foster a culture of sustainability and responsible living, especially as global awareness increases about the importance of reducing carbon footprints.

Simple Daily Habits to Save Energy

Simple habitual changes can lead to significant energy savings, accumulating over time and creating a considerable impact. Consider turning off lights when exiting a room as a basic yet impactful practice. Unplugging chargers and electronics when not in use is also beneficial to prevent unnecessary energy draw, commonly known as phantom energy. This invisible draw can account for up to 10% of your electricity bill, making it a crucial area to address. Reducing your thermostat by merely one degree during colder months can contribute to noticeable savings over time, as heating and cooling make up a significant portion of household energy use. These small adjustments require minimal effort but result in impactful reductions in your energy bill, transforming habitual actions into powerful savings strategies.

The Importance of Energy-Efficient Appliances

Investing in energy-efficient appliances can offer long-term savings and is a wise step towards reducing household energy consumption. Numerous devices are equipped with an energy rating label, which indicates their efficiency; the higher the rating, the more you’ll save in the long term. For example, Energy Star-certified appliances are made to use 10% to 50% less energy than regular appliances. Replacing older models with modern, energy-saving ones can significantly reduce energy consumption in your home, contributing to your budget savings and a more sustainable lifestyle. Additionally, choosing energy-efficient appliances can reduce greenhouse gas emissions, aligning personal financial goals with broader environmental objectives.

Embracing Smart Technology

With the advent of smart technology, managing home energy use has become easier than ever, offering seamless integration into daily routines. Smart thermostats and automated light systems allow you to control energy consumption remotely, resulting in substantial savings without compromising convenience. Many of these devices can adapt to your routine, learning your preferences over time and optimizing energy use accordingly. Smart meters also help track energy usage, providing insights that can help maximize consumption patterns and adjust habits accordingly for better savings. By leveraging smart technologies, homeowners can witness an evolution in how they interact with energy use, unlocking new potential for efficiency and savings.

Insulation and Weatherproofing

Proper insulation prevents energy loss, especially in older homes with common drafts and leaks. Insulation is a barrier to heat movement, preserving warmth in your house during winter and keeping it cool in summer, and is frequently the greatest factor in energy costs. Ensure your home is well-insulated, with attention paid to the attic, walls, and crawl spaces, which are common escape routes for heat. Basic weatherproofing techniques, such as using draft stoppers for doors and sealing windows, can enhance energy retention by minimizing air leaks. These improvements increase comfort and extend the lifespan of your heating and cooling systems, providing dual benefits of savings and equipment longevity.

Renewable Energy Options

Exploring renewable energy options can drastically cut utility bills and reduce dependency on conventional energy sources. These environmentally friendly options, although initially costly, provide enduring savings and diminish dependence on traditional electricity sources. Solar panels, for instance, can reduce electricity bills by about 50% to 90%, depending on the overall efficiency and usage. Incorporating such technologies into your home can increase property value and contribute to a greener future. Learn more about solar panel benefits for residential areas, and see how these sustainable solutions can fit into your energy strategy, promoting a more independent and eco-friendly lifestyle.

Seasonal Energy-Saving Tips

Adapting your energy-saving strategies to the seasons can maximize their effectiveness, ensuring year-round efficiency. In winter, sunlight is allowed into naturally warm spaces, while in summer, using fans or cross ventilation can significantly reduce air conditioning use, cutting costs effectively. Adopt seasonal habits like wearing warmer clothing indoors during colder months and using blackout curtains in the summer to prevent solar heat gain. These intuitive, often cost-free steps go a long way toward improving energy use efficiency.

Government Incentives and Programs

Various programs offer rebates or incentives for adopting energy-efficient measures, which can alleviate the initial investment costs of energy-efficient appliances or renewable energy installations. These initiatives, often issued through local government partnerships or federal energy programs, aim to make sustainable living accessible to a broader audience. Stay informed about available incentives in your area, as these programs vary by region and are subject to change, thus adding an extra dimension of financial planning to your energy-saving efforts.

Conclusion and Final Thoughts

Reducing your home energy costs is achievable with multiple benefits, ranging from financial savings to environmental impact. By implementing the strategies discussed, you can decrease utility bills while contributing positively to ecological conservation. The journey to energy efficiency starts with small changes, such as daily habits, and extends to larger investments like smart technology and renewable energy systems. Begin with minor adjustments and progressively take on additional significant measures to make a lasting impact on your energy consumption. It’s time to take control of your energy costs and embrace an efficient, sustainable future.

The post Practical Strategies for Cutting Down on Home Energy Costs appeared first on Home Business Magazine.

Original source: https://homebusinessmag.com/money/cutting-costs/practical-strategies-cutting-down-home-energy-cost/

Home Business Magazine Online

Key Takeaways:

• Discover effective methods to reduce your energy bills without sacrificing comfort.
• Discover how minor adjustments in everyday routines can result in substantial savings.
• Explore various technologies and tools that aid in energy efficiency.

Table of Contents:

1. Introduction to Energy Cost Reduction
2. Simple Daily Habits to Save Energy
3. The Importance of Energy-Efficient Appliances
4. Embracing Smart Technology
5. Insulation and Weatherproofing
6. Renewable Energy Options
7. Seasonal Energy-Saving Tips
8. Government Incentives and Programs
9. Conclusion and Final Thoughts

In an era where energy consumption is steadily increasing, finding ways to reduce electricity bills is more critical than ever. So, the question is, how to reduce electricity bill? Rising utility costs have become a pressing concern for many households, making energy savings not just an option but a necessity. Despite various economic challenges, adopting a few practical strategies can significantly reduce your home energy costs without compromising comfort. From simple habit changes to adopting smart technologies, there are multiple avenues to explore for energy savings, promoting both financial savings and environmental conservation, which has become an important part of responsible living today.

Introduction to Energy Cost Reduction

The escalation of energy costs has made managing household budgets more challenging, significantly damaging many families. It is essential to understand that reducing energy consumption is a smart economic choice and an environmentally responsible decision. In 2020, the average household in the U.S. spent around $2,060 on home utility bills, according to the Energy Information Administration (EIA). The data underscore the significance of addressing energy consumption as a financial and environmental priority. By being mindful of the energy we use, we can make a positive impact on both our wallets and the planet. This shift in approach can foster a culture of sustainability and responsible living, especially as global awareness increases about the importance of reducing carbon footprints.

Simple Daily Habits to Save Energy

Simple habitual changes can lead to significant energy savings, accumulating over time and creating a considerable impact. Consider turning off lights when exiting a room as a basic yet impactful practice. Unplugging chargers and electronics when not in use is also beneficial to prevent unnecessary energy draw, commonly known as phantom energy. This invisible draw can account for up to 10% of your electricity bill, making it a crucial area to address. Reducing your thermostat by merely one degree during colder months can contribute to noticeable savings over time, as heating and cooling make up a significant portion of household energy use. These small adjustments require minimal effort but result in impactful reductions in your energy bill, transforming habitual actions into powerful savings strategies.

The Importance of Energy-Efficient Appliances

Investing in energy-efficient appliances can offer long-term savings and is a wise step towards reducing household energy consumption. Numerous devices are equipped with an energy rating label, which indicates their efficiency; the higher the rating, the more you’ll save in the long term. For example, Energy Star-certified appliances are made to use 10% to 50% less energy than regular appliances. Replacing older models with modern, energy-saving ones can significantly reduce energy consumption in your home, contributing to your budget savings and a more sustainable lifestyle. Additionally, choosing energy-efficient appliances can reduce greenhouse gas emissions, aligning personal financial goals with broader environmental objectives.

Embracing Smart Technology

With the advent of smart technology, managing home energy use has become easier than ever, offering seamless integration into daily routines. Smart thermostats and automated light systems allow you to control energy consumption remotely, resulting in substantial savings without compromising convenience. Many of these devices can adapt to your routine, learning your preferences over time and optimizing energy use accordingly. Smart meters also help track energy usage, providing insights that can help maximize consumption patterns and adjust habits accordingly for better savings. By leveraging smart technologies, homeowners can witness an evolution in how they interact with energy use, unlocking new potential for efficiency and savings.

Insulation and Weatherproofing

Proper insulation prevents energy loss, especially in older homes with common drafts and leaks. Insulation is a barrier to heat movement, preserving warmth in your house during winter and keeping it cool in summer, and is frequently the greatest factor in energy costs. Ensure your home is well-insulated, with attention paid to the attic, walls, and crawl spaces, which are common escape routes for heat. Basic weatherproofing techniques, such as using draft stoppers for doors and sealing windows, can enhance energy retention by minimizing air leaks. These improvements increase comfort and extend the lifespan of your heating and cooling systems, providing dual benefits of savings and equipment longevity.

Renewable Energy Options

Exploring renewable energy options can drastically cut utility bills and reduce dependency on conventional energy sources. These environmentally friendly options, although initially costly, provide enduring savings and diminish dependence on traditional electricity sources. Solar panels, for instance, can reduce electricity bills by about 50% to 90%, depending on the overall efficiency and usage. Incorporating such technologies into your home can increase property value and contribute to a greener future. Learn more about solar panel benefits for residential areas, and see how these sustainable solutions can fit into your energy strategy, promoting a more independent and eco-friendly lifestyle.

Seasonal Energy-Saving Tips

Adapting your energy-saving strategies to the seasons can maximize their effectiveness, ensuring year-round efficiency. In winter, sunlight is allowed into naturally warm spaces, while in summer, using fans or cross ventilation can significantly reduce air conditioning use, cutting costs effectively. Adopt seasonal habits like wearing warmer clothing indoors during colder months and using blackout curtains in the summer to prevent solar heat gain. These intuitive, often cost-free steps go a long way toward improving energy use efficiency.

Government Incentives and Programs

Various programs offer rebates or incentives for adopting energy-efficient measures, which can alleviate the initial investment costs of energy-efficient appliances or renewable energy installations. These initiatives, often issued through local government partnerships or federal energy programs, aim to make sustainable living accessible to a broader audience. Stay informed about available incentives in your area, as these programs vary by region and are subject to change, thus adding an extra dimension of financial planning to your energy-saving efforts.

Conclusion and Final Thoughts

Reducing your home energy costs is achievable with multiple benefits, ranging from financial savings to environmental impact. By implementing the strategies discussed, you can decrease utility bills while contributing positively to ecological conservation. The journey to energy efficiency starts with small changes, such as daily habits, and extends to larger investments like smart technology and renewable energy systems. Begin with minor adjustments and progressively take on additional significant measures to make a lasting impact on your energy consumption. It’s time to take control of your energy costs and embrace an efficient, sustainable future.

The post Practical Strategies for Cutting Down on Home Energy Costs appeared first on Home Business Magazine.

Original source: https://homebusinessmag.com/money/cutting-costs/practical-strategies-cutting-down-home-energy-cost/

UPDATED 11th MARCH 2025

UPDATE: On 11th March 2025, it was revealed that the Trading Allowance discussed in this article will rise from £1000 to £3000 in the 2027/8 tax year.

 

A recent survey by Enterprise Nation revealed that one in three people intend to start a side hustle this year for some extra income. If you’ve always fancied making some side income as an online reseller, now is the best time to do it. The new tax year starts in April – so you’ve got until then to turn over up to £1000 tax free when the clock resets for the next tax year!

What is Reselling?

How is the £1000 Tax Free?

How to Find Bargains for Selling Online

Tips for Turning a Profit

Setting Yourself Up with HMRC

What Is Reselling?

Reselling is exactly what it sounds like: you find buy some bargains and then sell on for additional profit.

You can do this on a small scale – such as searching thrift shops and car boots for quirky finds now and then – or as a regular business that buys through wholesalers for big discounts before selling the products individually.

You’ll need somewhere to store your inventory, so make sure you know what you can afford to store before you get too excited looking up bargains from AliExpress online…!

How is the £1000 Tax Free?

This article is explicitly about reselling as a side business as a sole trader, let’s be clear about that. If you are selling your old clutter to make room in your home for extra cash, you don’t need to declare that to HMRC as a business. (But it helps to be able to prove that is what you’ve been selling online, if you make a regular habit of it or turn a large profit on a few items).

Let’s look at how the £1000 works if you want to run a small side business as a reseller. There is something called the Trading Allowance. And when we say small business, we mean small. The Trading Allowance is for ‘casual or miscellaneous income up to £1000 per tax year’, for self-employment income or casual services (like babysitting or gardening).

But you could earn £2000 tax free in 2025 if you’re quick. That’s because the Trading Allowance resets at the new tax year on 6th April – so if you haven’t earned anything yet, you’ve still got time in March to turn a profit. And after 6th April, you’ve got another year and another £1000 allowance.

There is one important thing to note, here. The Trading Allowance ONLY counts if you don’t want to offset your expenses. As a reseller, that means you can’t offset the expense of purchasing inventory items for resale. That’s why it’s important to find the lowest-cost bargains with the highest profit margin if you want to take advantage of the Trading Allowance.

If you earn more than £1000 in a tax year, you must register with HMRC.

How to Find Bargains for Your Reselling Side Hustle

In-person bargains can be a steal (not literally!). Take a look on websites like Freecycle and NextDoor to find things people are giving away for free – you’d be surprised what people will give you if they just want rid of it. Furniture is always available, for example, and if you’ve got a creative streak it can be easy to upcycle free furniture to flip for hundreds of pounds.

Your next in-person port of call would be car boot sales and charity shops. Avoid ‘vintage thrift’ shops, as these are likely to already have a high markup on items. But if you’ve got a good nose for a bargain, or have the time to make trips to charity shops in more affluent areas, you could nab some fantastic items to resell. If you’ve got the gift of the gab, visit car boot sales and be prepared to haggle on some star items, too.

Finally, go online. Trawl eBay and other sites like Gumtree to look for listings in the wrong category or that have spelling mistakes in the product title. These often have bargain prices – but it can take some time to find some good ones.

Scouring auctions ending soon is another great tactic. But it can be quite hard to find things in categories that you want, which are ending soon and still don’t have big bids on for last-minute bargains.

Enter: Lastminute Auction.

Lastminute Auction is an easy-to-use website that collates all eBay auctions that start at £1 that have an hour or less left on the timer. You can search by category, too, making it super easy to spot bargains that nobody has noticed! Even better, you can choose to opt in to email alerts for your favourite searches to make sure you don’t miss out when a fantastic item is listed with that magic £1 top bid remaining.

Tips for Turning a Profit

There are a few ways you can make sure you’re maximising your Trading Allowance for the biggest profit:

Set yourself a maximum price limit or achievable profit margin on an item – say £5 or 20% – to avoid overspending (remember you can’t offset your purchase cost on expenses)

Choose small things that can be easily posted at a low cost

Or, opt for one or two large items like furniture and focus on maximum profit

Take great photos and write accurate and engaging descriptions for your sales of the items

Lean into trends for a fast turnaround profit – remember things like fidget spinners? Find the hottest thing on the market right now to take advantage of the trend

Alternatively, choose a specialism like collectible cards or vinyl records so people get to know what you always like to sell.

Setting Yourself Up with HMRC

Remember, you get the £1000 Trading Allowance every tax year. Once you turn over more than £1000 in a tax year, you need to register with HMRC.

While that sounds like a bit of a faff, there is one big advantage: you can then offset the cost of your inventory against your profit instead of using the Trading Allowance. So, if your small side hustle takes off, you could take advantage of other ways to buy such as through wholesalers for big discounts. Remember you need to keep accurate accounts and submit a Self Assessment for your taxes by January 31st every year that you turn over more than £1000.

The post Start Your Resale Business Now and Get £1000 Tax Free Before April appeared first on MoneyMagpie.

Original source: https://www.moneymagpie.com/make-money/start-your-resale-business-now-and-get-1000-tax-free-before-april

UPDATED 11th MARCH 2025

UPDATE: On 11th March 2025, it was revealed that the Trading Allowance discussed in this article will rise from £1000 to £3000 in the 2027/8 tax year.

 

A recent survey by Enterprise Nation revealed that one in three people intend to start a side hustle this year for some extra income. If you’ve always fancied making some side income as an online reseller, now is the best time to do it. The new tax year starts in April – so you’ve got until then to turn over up to £1000 tax free when the clock resets for the next tax year!

What is Reselling?

How is the £1000 Tax Free?

How to Find Bargains for Selling Online

Tips for Turning a Profit

Setting Yourself Up with HMRC

What Is Reselling?

Reselling is exactly what it sounds like: you find buy some bargains and then sell on for additional profit.

You can do this on a small scale – such as searching thrift shops and car boots for quirky finds now and then – or as a regular business that buys through wholesalers for big discounts before selling the products individually.

You’ll need somewhere to store your inventory, so make sure you know what you can afford to store before you get too excited looking up bargains from AliExpress online…!

How is the £1000 Tax Free?

This article is explicitly about reselling as a side business as a sole trader, let’s be clear about that. If you are selling your old clutter to make room in your home for extra cash, you don’t need to declare that to HMRC as a business. (But it helps to be able to prove that is what you’ve been selling online, if you make a regular habit of it or turn a large profit on a few items).

Let’s look at how the £1000 works if you want to run a small side business as a reseller. There is something called the Trading Allowance. And when we say small business, we mean small. The Trading Allowance is for ‘casual or miscellaneous income up to £1000 per tax year’, for self-employment income or casual services (like babysitting or gardening).

But you could earn £2000 tax free in 2025 if you’re quick. That’s because the Trading Allowance resets at the new tax year on 6th April – so if you haven’t earned anything yet, you’ve still got time in March to turn a profit. And after 6th April, you’ve got another year and another £1000 allowance.

There is one important thing to note, here. The Trading Allowance ONLY counts if you don’t want to offset your expenses. As a reseller, that means you can’t offset the expense of purchasing inventory items for resale. That’s why it’s important to find the lowest-cost bargains with the highest profit margin if you want to take advantage of the Trading Allowance.

If you earn more than £1000 in a tax year, you must register with HMRC.

How to Find Bargains for Your Reselling Side Hustle

In-person bargains can be a steal (not literally!). Take a look on websites like Freecycle and NextDoor to find things people are giving away for free – you’d be surprised what people will give you if they just want rid of it. Furniture is always available, for example, and if you’ve got a creative streak it can be easy to upcycle free furniture to flip for hundreds of pounds.

Your next in-person port of call would be car boot sales and charity shops. Avoid ‘vintage thrift’ shops, as these are likely to already have a high markup on items. But if you’ve got a good nose for a bargain, or have the time to make trips to charity shops in more affluent areas, you could nab some fantastic items to resell. If you’ve got the gift of the gab, visit car boot sales and be prepared to haggle on some star items, too.

Finally, go online. Trawl eBay and other sites like Gumtree to look for listings in the wrong category or that have spelling mistakes in the product title. These often have bargain prices – but it can take some time to find some good ones.

Scouring auctions ending soon is another great tactic. But it can be quite hard to find things in categories that you want, which are ending soon and still don’t have big bids on for last-minute bargains.

Enter: Lastminute Auction.

Lastminute Auction is an easy-to-use website that collates all eBay auctions that start at £1 that have an hour or less left on the timer. You can search by category, too, making it super easy to spot bargains that nobody has noticed! Even better, you can choose to opt in to email alerts for your favourite searches to make sure you don’t miss out when a fantastic item is listed with that magic £1 top bid remaining.

Tips for Turning a Profit

There are a few ways you can make sure you’re maximising your Trading Allowance for the biggest profit:

Set yourself a maximum price limit or achievable profit margin on an item – say £5 or 20% – to avoid overspending (remember you can’t offset your purchase cost on expenses)

Choose small things that can be easily posted at a low cost

Or, opt for one or two large items like furniture and focus on maximum profit

Take great photos and write accurate and engaging descriptions for your sales of the items

Lean into trends for a fast turnaround profit – remember things like fidget spinners? Find the hottest thing on the market right now to take advantage of the trend

Alternatively, choose a specialism like collectible cards or vinyl records so people get to know what you always like to sell.

Setting Yourself Up with HMRC

Remember, you get the £1000 Trading Allowance every tax year. Once you turn over more than £1000 in a tax year, you need to register with HMRC.

While that sounds like a bit of a faff, there is one big advantage: you can then offset the cost of your inventory against your profit instead of using the Trading Allowance. So, if your small side hustle takes off, you could take advantage of other ways to buy such as through wholesalers for big discounts. Remember you need to keep accurate accounts and submit a Self Assessment for your taxes by January 31st every year that you turn over more than £1000.

The post Start Your Resale Business Now and Get £1000 Tax Free Before April appeared first on MoneyMagpie.

Original source: https://www.moneymagpie.com/make-money/start-your-resale-business-now-and-get-1000-tax-free-before-april

UPDATED 11th MARCH 2025

UPDATE: On 11th March 2025, it was revealed that the Trading Allowance discussed in this article will rise from £1000 to £3000 in the 2027/8 tax year.

 

A recent survey by Enterprise Nation revealed that one in three people intend to start a side hustle this year for some extra income. If you’ve always fancied making some side income as an online reseller, now is the best time to do it. The new tax year starts in April – so you’ve got until then to turn over up to £1000 tax free when the clock resets for the next tax year!

What is Reselling?

How is the £1000 Tax Free?

How to Find Bargains for Selling Online

Tips for Turning a Profit

Setting Yourself Up with HMRC

What Is Reselling?

Reselling is exactly what it sounds like: you find buy some bargains and then sell on for additional profit.

You can do this on a small scale – such as searching thrift shops and car boots for quirky finds now and then – or as a regular business that buys through wholesalers for big discounts before selling the products individually.

You’ll need somewhere to store your inventory, so make sure you know what you can afford to store before you get too excited looking up bargains from AliExpress online…!

How is the £1000 Tax Free?

This article is explicitly about reselling as a side business as a sole trader, let’s be clear about that. If you are selling your old clutter to make room in your home for extra cash, you don’t need to declare that to HMRC as a business. (But it helps to be able to prove that is what you’ve been selling online, if you make a regular habit of it or turn a large profit on a few items).

Let’s look at how the £1000 works if you want to run a small side business as a reseller. There is something called the Trading Allowance. And when we say small business, we mean small. The Trading Allowance is for ‘casual or miscellaneous income up to £1000 per tax year’, for self-employment income or casual services (like babysitting or gardening).

But you could earn £2000 tax free in 2025 if you’re quick. That’s because the Trading Allowance resets at the new tax year on 6th April – so if you haven’t earned anything yet, you’ve still got time in March to turn a profit. And after 6th April, you’ve got another year and another £1000 allowance.

There is one important thing to note, here. The Trading Allowance ONLY counts if you don’t want to offset your expenses. As a reseller, that means you can’t offset the expense of purchasing inventory items for resale. That’s why it’s important to find the lowest-cost bargains with the highest profit margin if you want to take advantage of the Trading Allowance.

If you earn more than £1000 in a tax year, you must register with HMRC.

How to Find Bargains for Your Reselling Side Hustle

In-person bargains can be a steal (not literally!). Take a look on websites like Freecycle and NextDoor to find things people are giving away for free – you’d be surprised what people will give you if they just want rid of it. Furniture is always available, for example, and if you’ve got a creative streak it can be easy to upcycle free furniture to flip for hundreds of pounds.

Your next in-person port of call would be car boot sales and charity shops. Avoid ‘vintage thrift’ shops, as these are likely to already have a high markup on items. But if you’ve got a good nose for a bargain, or have the time to make trips to charity shops in more affluent areas, you could nab some fantastic items to resell. If you’ve got the gift of the gab, visit car boot sales and be prepared to haggle on some star items, too.

Finally, go online. Trawl eBay and other sites like Gumtree to look for listings in the wrong category or that have spelling mistakes in the product title. These often have bargain prices – but it can take some time to find some good ones.

Scouring auctions ending soon is another great tactic. But it can be quite hard to find things in categories that you want, which are ending soon and still don’t have big bids on for last-minute bargains.

Enter: Lastminute Auction.

Lastminute Auction is an easy-to-use website that collates all eBay auctions that start at £1 that have an hour or less left on the timer. You can search by category, too, making it super easy to spot bargains that nobody has noticed! Even better, you can choose to opt in to email alerts for your favourite searches to make sure you don’t miss out when a fantastic item is listed with that magic £1 top bid remaining.

Tips for Turning a Profit

There are a few ways you can make sure you’re maximising your Trading Allowance for the biggest profit:

Set yourself a maximum price limit or achievable profit margin on an item – say £5 or 20% – to avoid overspending (remember you can’t offset your purchase cost on expenses)

Choose small things that can be easily posted at a low cost

Or, opt for one or two large items like furniture and focus on maximum profit

Take great photos and write accurate and engaging descriptions for your sales of the items

Lean into trends for a fast turnaround profit – remember things like fidget spinners? Find the hottest thing on the market right now to take advantage of the trend

Alternatively, choose a specialism like collectible cards or vinyl records so people get to know what you always like to sell.

Setting Yourself Up with HMRC

Remember, you get the £1000 Trading Allowance every tax year. Once you turn over more than £1000 in a tax year, you need to register with HMRC.

While that sounds like a bit of a faff, there is one big advantage: you can then offset the cost of your inventory against your profit instead of using the Trading Allowance. So, if your small side hustle takes off, you could take advantage of other ways to buy such as through wholesalers for big discounts. Remember you need to keep accurate accounts and submit a Self Assessment for your taxes by January 31st every year that you turn over more than £1000.

The post Start Your Resale Business Now and Get £1000 Tax Free Before April appeared first on MoneyMagpie.

Original source: https://www.moneymagpie.com/make-money/start-your-resale-business-now-and-get-1000-tax-free-before-april

Home Business Magazine Online

Windows 11 Download is straightforward. There are two ways to do it: through Windows Update or by downloading the Disk Image (ISO) for a fresh install. For installation, you can use the Installation Assistant, Media Creation Tool, or a USB drive.

First, ensure your PC meets the necessary requirements like TPM version 2.0 and DirectX 12 graphics support. Check that you have at least 64 GB of free storage space and verify your system supports UEFI Secure Boot and TPM 2.0 with Microsoft’s PC Health Check app.

Time to dive in!

Windows 11 Download Options

To install Windows 11, you can update your system or download an ISO file for a new setup. This guide covers both methods to easily upgrade your operating system.

Download Windows 11 via Windows Update

Upgrade to Windows 11 through Windows Update if your computer runs on Windows 10 and meets the system requirements. First, check for the update by going to Settings, then Update & Security, and click Check for Updates.

If “Feature update to Windows 11” appears, select Download and Install.

This upgrade process protects your files as you switch to the latest version. Simply follow the instructions after downloading.

Ensure your device has at least 9 GB of free disk space for the upgrade. More space is ideal to avoid problems during installation.

Download Windows 11 Disk Image (ISO)

To download Windows 11, go to Microsoft’s website and find the ISO file in the Windows 11 download section. Choose “Download disk image (ISO)” and follow the instructions. After downloading, create bootable media, like a USB drive or DVD.

This method is useful if your internet is slow because you only need to download it once. However, creating installation media requires some technical skills, but don’t worry—Microsoft’s site has all the steps.

For this task, use tools such as Rufus or Microsoft’s Media Creation Tool to make your USB drive ready for installing Windows 11 on any PC that needs an upgrade or a fresh setup.

Installation Methods for Windows 11

Installing Windows 11 on your computer offers several methods, ensuring you find the one that best suits your needs.

• Choose the right download option for your system.
• Follow the installation guide for a smooth upgrade.
• Check system requirements before starting.
• Use an ISO file for direct software installation.
• Look for free download options for Windows updates.

Use Windows 11 Installation Assistant

To download and install Windows 11, your computer must meet certain system requirements. Use the Windows 11 Installation Assistant from Microsoft’s website for an upgrade. Download the assistant, open it, and follow the instructions on your screen.

This process checks if your PC can run Windows 11 and helps with the upgrade.

Keep your files and apps safe during this upgrade by following each step carefully. Your PC needs to be connected to power and internet during the installation. Once done, you’ll have Windows operating system updated to its latest version on your device.

Create Installation Media with Media Creation Tool

Start by downloading the Media Creation Tool from the Microsoft website. Open the tool and choose “Create installation media for another PC.” Pick your language, edition, and select either a 64-bit or 32-bit version.

Next, connect a USB flash drive or insert a DVD with at least 8GB of space. Choose this drive in the tool and click next. The Media Creation Tool will then download Windows 11 and prepare your USB or DVD for installation on any compatible computer.

After creation, use this USB stick or DVD to install Windows 11 on old computers or new ones. Restart the computer with the device inserted and follow on-screen instructions to complete the installation process.

This method provides an easy way to upgrade systems with Windows operating system updates without much effort.

Install Windows 11 from USB

To get Windows 11 onto a USB, you need a drive with at least 8GB. Confirm your PC boots from USB, as some older ones can’t.

Go to Microsoft’s website and download the Media Creation Tool. Open it, choose “Create installation media for another PC,” select language, edition, and architecture for Windows 11.

Choose “USB flash drive” to save.

Plug in the USB drive. Let the Media Creation Tool transfer Windows 11 onto it. This could take time based on internet speed and computer performance. After copying is done, restart your computer with the USB still connected.

Your PC should show a setup screen for installing Windows 11. If not shown automatically, change the boot order in BIOS settings to start from the USB first.

During installation, pick your preferences like language and keyboard layout. Follow prompts until you reach the new desktop screen of Windows 11.

Key Requirements for Installing Windows 11

Before you jump into the Windows 11 installation train, there are a couple of things to check off your list. Make sure your PC meets the minimum system requirements—think of it as making sure your car has enough gas for a long trip.

Minimum system requirements

Jumping right into the nitty-gritty, your PC needs to meet some basic needs to get cozy with Windows 11. Let’s break it down in a table, easy-peasy.

Requirement	Details
Processor	1 GHz or faster with 2 or more cores on a compatible 64-bit processor or System on a Chip (SoC)
Memory	4 GB RAM
Storage	64 GB or larger storage device
System Firmware	UEFI, Secure Boot capable
TPM	Trusted Platform Module (TPM) version 2.0
Graphics Card	DirectX 12 compatible graphics / WDDM 2.x
Display	Greater than 9” with HD Resolution (720p)
Internet Connection	Internet connectivity is necessary to perform updates and to download and take advantage of some features

 

Alright, let’s keep it straight. Your PC doesn’t need to be a superhero, but it’s gotta pack a little punch for Windows 11. Make sure it’s up to speed, or you’ll be missing out on all the fun. And, hey, nobody wants that!

Storage space and compatibility checks

Before installing Windows 11, check if your PC has at least 64 GB of storage. More space helps the software run better.

Windows 11 requires specific features: TPM 2.0, Secure Boot capable hardware, and support for DirectX 12 or later with WDDM 2.x driver.

Use the PC Health Check app from Microsoft to confirm your computer meets these requirements. This step ensures your device is ready for the upgrade or new installation of Windows operating system.

Conclusion

Windows 11 offers simple download and installation options. Upgrading your system is straightforward with these steps. If you want to improve your computer, follow this guide. This will help make updating technology easier for everyone.

The post Complete Guide to Windows 11 Download and Installation Options appeared first on Home Business Magazine.

Original source: https://homebusinessmag.com/home-office/computers-and-software/complete-guide-windows-11-download-installation-options/

Home Business Magazine Online

Windows 11 Download is straightforward. There are two ways to do it: through Windows Update or by downloading the Disk Image (ISO) for a fresh install. For installation, you can use the Installation Assistant, Media Creation Tool, or a USB drive.

First, ensure your PC meets the necessary requirements like TPM version 2.0 and DirectX 12 graphics support. Check that you have at least 64 GB of free storage space and verify your system supports UEFI Secure Boot and TPM 2.0 with Microsoft’s PC Health Check app.

Time to dive in!

Windows 11 Download Options

To install Windows 11, you can update your system or download an ISO file for a new setup. This guide covers both methods to easily upgrade your operating system.

Download Windows 11 via Windows Update

Upgrade to Windows 11 through Windows Update if your computer runs on Windows 10 and meets the system requirements. First, check for the update by going to Settings, then Update & Security, and click Check for Updates.

If “Feature update to Windows 11” appears, select Download and Install.

This upgrade process protects your files as you switch to the latest version. Simply follow the instructions after downloading.

Ensure your device has at least 9 GB of free disk space for the upgrade. More space is ideal to avoid problems during installation.

Download Windows 11 Disk Image (ISO)

To download Windows 11, go to Microsoft’s website and find the ISO file in the Windows 11 download section. Choose “Download disk image (ISO)” and follow the instructions. After downloading, create bootable media, like a USB drive or DVD.

This method is useful if your internet is slow because you only need to download it once. However, creating installation media requires some technical skills, but don’t worry—Microsoft’s site has all the steps.

For this task, use tools such as Rufus or Microsoft’s Media Creation Tool to make your USB drive ready for installing Windows 11 on any PC that needs an upgrade or a fresh setup.

Installation Methods for Windows 11

Installing Windows 11 on your computer offers several methods, ensuring you find the one that best suits your needs.

• Choose the right download option for your system.
• Follow the installation guide for a smooth upgrade.
• Check system requirements before starting.
• Use an ISO file for direct software installation.
• Look for free download options for Windows updates.

Use Windows 11 Installation Assistant

To download and install Windows 11, your computer must meet certain system requirements. Use the Windows 11 Installation Assistant from Microsoft’s website for an upgrade. Download the assistant, open it, and follow the instructions on your screen.

This process checks if your PC can run Windows 11 and helps with the upgrade.

Keep your files and apps safe during this upgrade by following each step carefully. Your PC needs to be connected to power and internet during the installation. Once done, you’ll have Windows operating system updated to its latest version on your device.

Create Installation Media with Media Creation Tool

Start by downloading the Media Creation Tool from the Microsoft website. Open the tool and choose “Create installation media for another PC.” Pick your language, edition, and select either a 64-bit or 32-bit version.

Next, connect a USB flash drive or insert a DVD with at least 8GB of space. Choose this drive in the tool and click next. The Media Creation Tool will then download Windows 11 and prepare your USB or DVD for installation on any compatible computer.

After creation, use this USB stick or DVD to install Windows 11 on old computers or new ones. Restart the computer with the device inserted and follow on-screen instructions to complete the installation process.

This method provides an easy way to upgrade systems with Windows operating system updates without much effort.

Install Windows 11 from USB

To get Windows 11 onto a USB, you need a drive with at least 8GB. Confirm your PC boots from USB, as some older ones can’t.

Go to Microsoft’s website and download the Media Creation Tool. Open it, choose “Create installation media for another PC,” select language, edition, and architecture for Windows 11.

Choose “USB flash drive” to save.

Plug in the USB drive. Let the Media Creation Tool transfer Windows 11 onto it. This could take time based on internet speed and computer performance. After copying is done, restart your computer with the USB still connected.

Your PC should show a setup screen for installing Windows 11. If not shown automatically, change the boot order in BIOS settings to start from the USB first.

During installation, pick your preferences like language and keyboard layout. Follow prompts until you reach the new desktop screen of Windows 11.

Key Requirements for Installing Windows 11

Before you jump into the Windows 11 installation train, there are a couple of things to check off your list. Make sure your PC meets the minimum system requirements—think of it as making sure your car has enough gas for a long trip.

Minimum system requirements

Jumping right into the nitty-gritty, your PC needs to meet some basic needs to get cozy with Windows 11. Let’s break it down in a table, easy-peasy.

Requirement	Details
Processor	1 GHz or faster with 2 or more cores on a compatible 64-bit processor or System on a Chip (SoC)
Memory	4 GB RAM
Storage	64 GB or larger storage device
System Firmware	UEFI, Secure Boot capable
TPM	Trusted Platform Module (TPM) version 2.0
Graphics Card	DirectX 12 compatible graphics / WDDM 2.x
Display	Greater than 9” with HD Resolution (720p)
Internet Connection	Internet connectivity is necessary to perform updates and to download and take advantage of some features

 

Alright, let’s keep it straight. Your PC doesn’t need to be a superhero, but it’s gotta pack a little punch for Windows 11. Make sure it’s up to speed, or you’ll be missing out on all the fun. And, hey, nobody wants that!

Storage space and compatibility checks

Before installing Windows 11, check if your PC has at least 64 GB of storage. More space helps the software run better.

Windows 11 requires specific features: TPM 2.0, Secure Boot capable hardware, and support for DirectX 12 or later with WDDM 2.x driver.

Use the PC Health Check app from Microsoft to confirm your computer meets these requirements. This step ensures your device is ready for the upgrade or new installation of Windows operating system.

Conclusion

Windows 11 offers simple download and installation options. Upgrading your system is straightforward with these steps. If you want to improve your computer, follow this guide. This will help make updating technology easier for everyone.

The post Complete Guide to Windows 11 Download and Installation Options appeared first on Home Business Magazine.

Original source: https://homebusinessmag.com/home-office/computers-and-software/complete-guide-windows-11-download-installation-options/