Self-Employed - Paying Tax?

[PaulMacC]

What are the tax bands in the UK? How much do I have to pay if I go over a certain amount. I earn about £13,000 - £20,000 a year right now, self-employed. How much tax do I pay and how do I pay the tax?

[GommeInc]

http://www.hmrc.gov.uk/incometax/basics.htm

That seems to cover the basics and how you pay for it. I assume Northern Ireland is the same as the rest of the UK for tax etc.

[Vinnie:Safety]

What are you doing, as self employed?

[PaulMacC]

What are you doing, as self employed?
playing games and posting vids on youtube

---------- Post added 30-05-2011 at 01:13 AM ----------

If I declare myself as self-employed. All my uni loan/grants will be messed up tho, wont they?

[Vinnie:Safety]

Damn, Nice.

[Misawa]

If you were earning £20,000 per year your net income - after tax - would be about £15,000. Contact HM Revenue & Customs.

[Fez]

Don't mean to sound like a **** but, Paul, you earn more than my mother (at your lowest guess) who works full-time.

[PaulMacC]

My pay rate is fluctuating. I get paid per views. So I don't have a flat pay rate.

[Richie]

Subbed to be sound, best of luck with your career as a professional gamer if that's what you want to do (lethal). I haven't a clue about taxes in the uk though, so my post is pretty much irrelevant.

[redtom]

Self Employment makes it extremely easy to get around taxes as you don't know how much your earning, plus you have to tell them things which are generally pretty hard for the to check. I would say wait until your out of uni because it will mess up your grants and some types of loans, although why you need them when your bring in at least 15k a year I don't know. I know this isn't perfectly 'legal' but I doubt the tax man is going to be checking up on uni students who generally over pay taxes.

If your really for paying your taxes :o then the easiest thing would be to ring them up and they'll happily tell you how to work out what extreme about of money you need to hand over.

[PaulMacC]

Yeah was thinking of leaving it and then if they hit me with a fine or ask for it I can easily pay for it after Uni.

[N!ck]

I know this was bumped by a spammer (I will report it).

You have a personal allowance of £7,475 (tax free). Anything you earn over that will have income tax of 20% up to £35,000 (more for earnings over £35k). You will also have to pay national insurance contributions, probably Class 2 (not totally sure) which are a small weekly fee.

[-:Undertaker:-]

The government are so kind allowing us to keep a 'personal allowance' of £7,475 of our own money, the darlings how kind of them!

But yes, being self-employed gives you more, lets say 'sway'. ;)

[Firehorse]

playing games and posting vids on youtube

---------- Post added 30-05-2011 at 01:13 AM ----------

If I declare myself as self-employed. All my uni loan/grants will be messed up tho, wont they?

That's a tricky one. I say that shouldn't be classed as self employment anyway, should be classed as a hobby you're paid for.

[Recursion]

That's a tricky one. I say that shouldn't be classed as self employment anyway, should be classed as a hobby you're paid for.

This is HM Revenue & Customs, paid by YouTube who will be registered with various authorities, as far as the god awful government we have (and have had since at least I was born), he's self-employed.

[N!ck]

That's a tricky one. I say that shouldn't be classed as self employment anyway, should be classed as a hobby you're paid for.

It doesn't matter if it's a hobby or not. If you're making money from it then it's taxable income. There are some exceptions of course such as money made by gambling.

[Casanova]

I'll be honest I think you're *a lot of things I won't say...* if you're not declaring your income, getting grants and loans and not paying anything?

The taxman seems to rape me every month and here you are getting a good income, loans, grants and paying nothing?
I hope someone reports you if that's the case - otherwise apologies for assuming so. Your posts are quite deceptive.


You should pay about 5k in tax and NI. Also lose about 2/3 of your grants.

[RyRy]

Probably worth checking it out mate. I hate you for earning more money than me though, you little sod.

Rest assured when I'm up in Lancs, you're buying all the rounds.

[N!ck]

I'll be honest I think you're *a lot of things I won't say...* if you're not declaring your income, getting grants and loans and not paying anything?

The taxman seems to rape me every month and here you are getting a good income, loans, grants and paying nothing?
I hope someone reports you if that's the case - otherwise apologies for assuming so. Your posts are quite deceptive.


You should pay about 5k in tax and NI. Also lose about 2/3 of your grants.

I thought uni loans and grants were based solely on your parent's income?

[RyRy]

I thought uni loans and grants were based solely on your parent's income?

I dont think they have to be if you're over 18?

[Casanova]

I think it's over the age of eighteen. I think.
Even if that was the case then he's even worse for not just paying tax and NI?

[Oleh]

If you don't declare it. Taxes shall not be paid.

[Casanova]

If you don't declare it. Taxes shall not be paid.

That was like the most pointless post ever :P
It's true but I don't get why you'd post it.

[Recursion]

I'll be honest I think you're *a lot of things I won't say...* if you're not declaring your income, getting grants and loans and not paying anything?

The taxman seems to rape me every month and here you are getting a good income, loans, grants and paying nothing?
I hope someone reports you if that's the case - otherwise apologies for assuming so. Your posts are quite deceptive.


You should pay about 5k in tax and NI. Also lose about 2/3 of your grants.

Gotta agree with you here, just in a more light hearted way! :P

Student finance is a massively flawed system anyway, we're way over any limits for grants etc but it's not like we're rich, we still have mortgages etc :@ I'm literally stuck on the absolute minimum student finance.

[Oleh]

That was like the most pointless post ever :P
It's true but I don't get why you'd post it.

Most of the posts I've made have been pointless today. :(

What I was trying to say is. If he doesn't declare the tax, he doesn't have to pay for it. Therefore has no need to know the brackets.

[N!ck]

Gotta agree with you here, just in a more light hearted way! :P

Student finance is a massively flawed system anyway, we're way over any limits for grants etc but it's not like we're rich, we still have mortgages etc :@ I'm literally stuck on the absolute minimum student finance.

Poor you ;).


Most of the posts I've made have been pointless today. :(

What I was trying to say is. If he doesn't declare the tax, he doesn't have to pay for it. Therefore has no need to know the brackets.

And then you get caught, have to pay what you owe anyway and possibly go to prison.

[DPS]

Just dont tell them, finish Uni, keep doing what your doing. It isnt hurting anyone, look at all these bums claiming benifits.