Quote:
Originally Posted by rhyswynne
Through blogging and my other online ventures, I probably earn about £1000 a year through link sales and the like. I'm unsure exactly what to do regarding it, so two questions:
a) Should I worth declaring it?
b) How does one go about making sure I pay tax on it?
Thanks  |
Yes contact the tax asap as failing to declare your earnings and making a Self Assessment could result in a fine of £100 + from our lovely tax office.
Your earning are classed as self-employment and you will be taxed on them plus you will have to pay NI contributions as a self employed person, even if you have a full time job and pay tax + Ni under the PAYE.
HM Revenue & Customs: Home Page tax office online has more help... but contact your local office asap to aviod the fines.
Mike