Originally Posted by Nate
Suoooo... Spammer? I am genuinely not sure.
i get the impression the question is genuine but why they posted it on OWF rather than something like yahoo answers or some shit is beyond me. seems a bit random.
Originally Posted by Cienna
I run an online shop that buys and sells games. With it's recent growth I'm now seeing £500+ a month revenue from it. However, on top of income from my part time job it would put me into the basic tax bracket according to this tax calculator. I'm not currently paying tax on any of my income. Do I need to tell HMRC about the online shop or does it not count as income tax? Thanks in advance
what those guys said. you might be exempt if your overall income doesn't equal over a certain amount, but if it does (like you suggest) then yeah you must absolutely declare it. unfortunately.
make sure it's high on your to-do list because these things have a way of sorting themselves out, ie: getting chased down for tax evasion. also, if you're still not sure whether you should pay tax then talk to the Citizens Advice Bureau, they know their stuff and their advice is free.