Help on tax from selling games?

Cienna · #1 03-19-2018, 05:47 AM

Hi,

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

C

MOD EDIT: link deleted because it doesn't seem relevant.

Varrok · #2 03-19-2018, 08:49 AM

I'm hardly an expert on international law, but in my home country you'd need to report that and pay taxes if you earn enough to qualify for that

STM · #3 03-19-2018, 09:08 AM

You need to delcare your income, yes.

***Nate*** · #4 03-19-2018, 07:09 PM

Suoooo... Spammer? I am genuinely not sure.

CravenKnight · #5 03-19-2018, 10:36 PM

:

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.

:

Hi,

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.

STM · #6 03-20-2018, 07:37 AM

The most wholesome response to a newcomer and he might not even be human.

Varrok · #7 03-20-2018, 08:51 AM

We should stick this thread in case anyone else needs such advice.

CravenKnight · #8 03-20-2018, 04:37 PM

:

The most wholesome response to a newcomer and he might not even be human.

oh shit i didn't even think of that

IGNORE ME

Nepsotic · #9 03-23-2018, 05:21 PM

How should the government do to crack down on gays and lesbians?

Phoetux · #10 03-26-2018, 04:11 AM

:

"Best Answer: Stop teaching kids to be gay and promoting it in public schools"

haha WOW I think those are not bots