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Advise needed. Day job + online income + TAX. ( UK)

Discussion in 'Business & Tax Advice' started by yesfuture, Dec 4, 2015.

  1. yesfuture

    yesfuture Junior Member

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    I live in UK. I have a day job. So I pay my tax and NI.

    Recently I started earning a bit of money online (few months ago). That is extra income.
    Now I'm a bit worried about my tax...

    Anyone else in the same situation? Looking for any advice tax-wise.

    Thanks
     
  2. macdonjo3

    macdonjo3 Jr. VIP Jr. VIP

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    What is the question?
     
  3. yesfuture

    yesfuture Junior Member

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    As I said I have same extra income. I don't think it would be good idea to hide it...
    I am not English, but I moved to the country few years ago. So I have no clue how to deal with tax.
    What should I do, how do I start? Can I sort it out online?
     
  4. adaptable

    adaptable Junior Member

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    Go to the closest tax office and yell "I want to pay tax" - problem solved.
     
  5. lovelykitty

    lovelykitty Junior Member

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    --------------------
     
    Last edited: Dec 4, 2015
  6. lovelykitty

    lovelykitty Junior Member

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    I agree :) I am sure the tax office will help you out
     
  7. adaptable

    adaptable Junior Member

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    It depends how you are paid and how you are running/doing it.
    If the money touches your bank accounts; it is pretty easy/possible to track.
     
  8. dietsbest

    dietsbest Registered Member

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    If it drops in your bank account .. you will need to pay tax. If you get an offshore wallet and get it dropped there then you can withdraw via debit card...
     
  9. goodperson

    goodperson Elite Member

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    you can use Payoneer card and withdraw funds via mastercard, no need pay tax
     
  10. meathead1234

    meathead1234 Moderator Staff Member Moderator Premium Member

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    This is awful advice. Tax evasion is a crime, especially in the UK.

    @ OP - depending how much you are making you might want to get an accountant (say at least 10k extra a year). If it's less than that you just need to register as self employed and fill out a self assessment tax return each year. Lots of useful information about it online and yes you can fill it out online. It might be worth having an accountant do it for you first year to make sure you are sorting all the right deductions and don't pay too much tax.
     
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  11. Asif WILSON Khan

    Asif WILSON Khan Executive VIP Jr. VIP

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    Here you go OP:

    https://www.gov.uk/undeclared-income
    https://www.gov.uk/browse/tax/dealing-with-hmrc
    https://www.gov.uk/browse/tax/income-tax
    https://www.gov.uk/browse/tax/vat
    https://www.gov.uk/browse/tax/national-insurance
    https://www.gov.uk/browse/tax/self-assessment


    It can be daunting when dealing with tax issues for the first time, so if you have made an extra £10000+ this year then it might be worthwhile to consult an accountant, as suggested by meathead1234.
    As long as you keep good records (if you haven't then start now) showing where your money is coming from and where it goes then you can do it yourself (set aside a decent amount of time to get to grips with it). There are many software packages and books available to help.

    https://www.citizensadvice.org.uk/tax/problems-with-tax/help-with-tax-problems/
     
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