Self-Employed - Paying Tax?

[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?