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Already got a 9-5 job on £17.5k. Want to run a business on the side...

Discussion in 'Offline Marketing' started by xtrapsp, Oct 6, 2014.

  1. xtrapsp

    xtrapsp Newbie

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  2. ardley216

    ardley216 Elite Member

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    Well, I'd play the 'ignorant fool', just earn the money and not pay tax, then if tax man comes knocking, make sure you DID NOT spend what tax you were supposed to pay, then pay it off :)

    I do run my earnings through a limited company, the best thing is, in the UK when you claim dividends at the end of the year, you get 10% tax credit :) although corporation tax is 20%.
     
  3. xtrapsp

    xtrapsp Newbie

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    I've never had to pay dividends before (Not sure how! 21 years old and moved out a year ago). Not sure how this works! I also earn a bit on the side as it stands from donations from where I livestream ($50 a month).

    Just wondering how these fall into place.

    Thansk for the post :)
     
  4. acotut

    acotut Jr. VIP Jr. VIP

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    So you earn 17.000 pounds/month,but you want to create a business in order to get an extra 300?
    Sounds fishy
     
  5. pathart

    pathart Senior Member

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    per year I'd imagine.

    Personally I'd never mess with the taxman.
     
  6. meathead1234

    meathead1234 Moderator Staff Member Moderator Premium Member

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  7. LostConnection

    LostConnection Senior Member

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  8. GoTRooT

    GoTRooT Jr. VIP Jr. VIP

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    You are clearly in England, let me tell you I fucked up my tax once years ago when I lived there and got a call from my mailing address when the bailiffs turned up to it for a bill well under 1000 while at the same time being owed a few K in re-bait.

    Do not fuck with the british taxman unless you know exactly what you are doing, in the UK you need to be earning a shit load before the tories allow you to go tax free and the system is designed to fuck over anyone earning less than 120K.
     
  9. xtrapsp

    xtrapsp Newbie

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