Showing posts with label Income from websites. Show all posts
Showing posts with label Income from websites. Show all posts

Monday, 20 July 2009

Income from websites

Mate, need some advice,
Got a large problem at home, My darling is puking up every morning, I’ve had an accident and we’re expecting Jack and Jill to arrive in about 9 months time. Mate, I need additional income now. If I start earning money from a baby nappy rash website, I have setup in my spare time, will I have to pay tax and NI on that income? I am also employed full time on a salary of £125,000 a year.
Yours ever so grateful, Lucky Lucky Daniel M


Congratulations Danny
You should register your new web business with the tax office as a self-employed business. We can help you do this if you wish. Your self-employment will not affect your
employment, and your employer need not know about your website business. However, you will have to complete a tax return each year to declare all of your income; from your
business, employment and any investments. By registering as self-employed you will also be automatically registered to pay class 2 NI in respect of your self-employed profits. If these profits are expected to be less than £5,075 for the current year, you should complete form CF10 which is a request for exemption from paying class 2 NI.