TAXES and online Income !

by mun 7 replies
I simply can not find this information anywhere. I live in the UK and here we have income tax, im not sure if its the same everywhere but I was wondering if online earnings need to be taxed aswell as on top of a regular job income.

I can not find information regarding this specific subject and am looking for someone who is knowledgeable enough to give me an answer.

Does internet income need to be taxed? is it illegal for it not to be taxed?

Thanks in advance.
Regards,
Mun.
#main internet marketing discussion forum #income #online #taxes
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  • Profile picture of the author Darth Executor
    Short answer: yes.
    Long answer: Yes but I don't know how as I'm not in the UK. If you make a significant amount hire someone like an accountant to do it for you.
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  • Profile picture of the author joblythe
    Mun

    Any earned income is taxable under UK rules - i.e. wages and salaries, profits from self-employment, commission, bonuses etc. and as such should be declared. This obviously includes online earnings.
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    • Profile picture of the author mun
      Ah I see, thank you for the prompt replies.
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      • Profile picture of the author Richard Tunnah
        Offline or online makes no difference to the government I'm afraid. Like death taxes are a sure thing!

        Rich
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        • Profile picture of the author chris_surfrider
          Yep, no way around it.

          Make money, pay tax.

          Obviously there's usually legal ways to lighten the tax load, but for that you'll need to speak to an accountant and a tax attorney where you live.

          -Chris
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          • Profile picture of the author MoaddinFM
            if you plan on making some heavy cash online you have to go anyways to an attourney and perhaps an accountant.

            It will cost you nothing compared to what you could lose. And if you don´t have a enterprise and are acting on your own it is more important, as you could risk yours and your family´s money.
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            • Profile picture of the author EndGame
              I am having self-assessment stuff sent out to me by the tax office this week. It sucks. I would recommend setting up a limited company with company's house and trade under a company name to limit your personal liability.

              But yeah, either get in touch with an accountant or the tax and revenues people.
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