UK Tax advice needed

[kimkils]

Over the past year i've made some money on the internet (the BH way ) and am trying to go more WH by using BH funds, the thing is i am just out of University and am thinking of registering self employed.

Will the tax man inquire about all my previous earnings over the past year? Or will my "self employment" simply start from when i apply?

I understand that paying taxes is a thing that we must do (unfortunately!) but how far can paypal go as to avoiding this? If i receive money with paypal and transfer to a savings account based soley online, will the tax man know its there? What if i just keep it in my paypal account? Then buy stuff off of eBay or something?

PLEASE can anybody share their tax knowledge, thanks so much!

 

[Delboy2424]

 

[homenet]

There is no way you can 'hide' your money in paypal and expect HMRC not to know about it. If they wanted to they can find out about every penny you have been paid that has some kind of paper trail.

Depending how much you earnt before I would consider just declaring everything from the point you went self employed, that is obviously what I would do and by no means the legal way, but if its a relatively small amount then there is a very very low chance of it ever coming to light.

 

[kimkils]

Thanks very much for the responses. I have all the information i need and will fill in my form now. Quite excited, this is a milestone for me, thanks to BHW i can make a living on the interwebz like a gr0wn uP lol (i am a grownup)

 

[ExtraWinner]

Oooo cmon guys, are you serious?
I am from Ireland, but as I am aware its similiar to UK.
Believing that tax office knows everything is for pussys.

I am making money with IM since 5 years and if you know how to cloak it you can easily avoid paying taxes.

Register from now, forget about yesterday.
Nobody will chase you or use Sarumans magic ball to spy on you. We are talking about BHW, not Pussy Land...
Being affraid of goverment is for regular people or people from rigorous countries like US or eastern europe...

 

[pttugas]

Hello I'm from Manchester also Uni computer science. Tax! U are asking u just have to let then know if u take over 50k a year till there enjoy free and legal cash. U can call me add msn [email protected]
Posted via Mobile Device

 

[pttugas]

But if u like to give money way pay a 1pound a week
Posted via Mobile Device

 

[ExtraWinner]

pttugas - this guy is talking!!!

Thats BHW forum and UK/Ireland are famous for their fu(c)ked tax and monitoring systems...
Use it for your own advantage!!!

 

[Hunwarrior]

I used to live in UK, now i live in Europe. In Europe i say i pay tax in UK, in UK ... guess what i say?

 

[ShadeDream]

lmao jokers

 

[Olbol]

I used to live in UK, now i live in Europe. In Europe i say i pay tax in UK, in UK ... guess what i say?

Exactly the same boat as you my friend

 

[kimkils]

Hello I'm from Manchester also Uni computer science. Tax! U are asking u just have to let then know if u take over 50k a year till there enjoy free and legal cash. U can call me add msn [email protected]
Posted via Mobile Device

are you serious???

 

[Hunwarrior]

 

[carlx]

Delboy, thank you for your response to this question, it is one i also share and the information provided will help in officially setting myself as self employed.

 

[Delboy2424]

no worries glad to help - if you can make a profit of your ventures why run the risk of getting hammered (believe me they do when they catch you) - whilst I dont agree with the rates in the UK (circ 26% to HMRC) imo - the risk of getting caught not declaring far out ways the fees you pay - once you are on their hitlist they never leave you alone.

Many go down the "open a LTD co" etc, they forget that to do this audited accounts need to be supplied to companies house and are open to far more scrutiny not too mention hundreds in obtaining audited accounts - up to you, but imo the self assesment route was/is open to all manor of abuse and is asking for people to try it on - you may be lucky and not get a query if thats how you want to go about your finances - you may get one anyway but if you are clean you have nothing to worry about - LTD company fudging will get you a serious court date if caught!!!

 

[Proteus]

There are ways, its complicated but offshore business accounts with cards are the way to go to spend illgottengains in the UK.

 

[ExtraWinner]

Fcuk, just move your ass 200 kilometers to channel islands or isle of man... Job is done - no taxes and legal.

 

[hollaholla]

 

[ShadeDream]

Fcuk, just move your ass 200 kilometers to channel islands or isle of man... Job is done - no taxes and legal.

Wait, what If someone goes for an offshore bank in the Channel Islands like HSBC? You earn money through CPA (from US companies) and you get it sent to you to your offshore Channel Islands HSBC bank, does this mean you cannot get taxed on this money in the UK? Can you then use your debit card to go on a shopping spree in the UK without worring about TAX? lol

 

[Pyronix]