Paying Tax?

Hey, I'm confused so maybe one of you will know more about this than me. Basically, I'm 16 and working online. The amount I'll receive per month could be £X to £XXXX. Let's assume it's £1000. Would I need to pay tax (I'm guessing a big fat YES YES YES), if so how much and how? This money would arrive by cheque or PayPal. The money comes from the USA.

Any help would be appreciated, I have no idea how it works.

http://tinyurl.com/ydu2onl

Edited by invincible (Forum Super Moderator): Please don't post pointlessly

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Originally Posted by Stutoman

http://tinyurl.com/ydu2onl

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Congrats on bumping up your post count. :eusa_clap

Anybody else, with something useful? Somebody who actually knows/deals with this stuff?

No you don't.

Nope you pay no tax until you're 18 AFAIK. Apart from VAT on sweeties and stuffs

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Originally Posted by thyflux

No you don't.

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Originally Posted by The Professor

Nope you pay no tax until you're 18 AFAIK. Apart from VAT on sweeties and stuffs

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Surprising to hear, I'd of thought the government would have wanted some of my money... damn them taking money for my chocolates. :'( thanks very much for replying.

That means I do not have to pay tax on my machinima money :o

But you will have to register your company i think. Il ask my parents tomorrow tomorrow for you if you like.

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Originally Posted by GoldenMerc

But you will have to register your company i think. Il ask my parents tomorrow tomorrow for you if you like.

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Hellllllllllllooooo Ross. It's not my company, it's somebody elses but many people work under it if you get what I mean (like an affiliate I guess).

there's a threshold where you get so much money tax free (i think its about £10k a year) then you have to pay tax after that.