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Taxes in the UK

Discussion in 'Business & Tax Advice' started by xelex, Dec 19, 2009.

  1. xelex

    xelex Junior Member

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    Guys do you fill out your BH income as taxable revenue? Is there a way to easily avoid getting taxed for the BH incomes. I havn't earned that much yet, but would rather not declare my BH income, because it will cost me a lot more then I earned. If someone can help or PM me if this kinds of discussions are against the rules. thx
     
  2. CMS2009

    CMS2009 BANNED BANNED Premium Member

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    Any revenue that you possibly can get paid thru paypal, get it done that way. Try not to take cheques and things, cos there is really no way to explain a cheque from the *AFFILIATECOMPANY*COM as untaxable earnings.

    anything you get from paypal however, can be gambling winnings, (untaxable) gifts from your long lost cousin abroad (untaxable unless it reaches silly proportions)

    You can also use any money in your paypal account to pay for goods/services off ebay that you can then sell locally for cash.

    theres also a compliacted way involving poker rooms and sites, if u really need it give me a shout.

    By the way, if you have an ordinary job, paying PAYE, the tax man will not come near you unless someone gives them a reason to :

    1. yor wife/spouse grasses u up after a fall out/divoirce
    2. you've been slabbering down the pub about the money u make online
    3. you make 20k a year but drive a ferarri to work
    4. you go over £10k in your bank/credit union account. They must report this to the tax man. Keep your bank account levels low.

    hope this helps
     
    • Thanks Thanks x 4
  3. xelex

    xelex Junior Member

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    Hey man I don't really understand this statement. The reason I'm worried is cause I am a full time student receiving the student loan and I don't want my online earnings to affect my student loan...
     
  4. Spawn

    Spawn Jr. VIP Jr. VIP

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    that sure kick my loan ideas out, new year i can get free college where i live though
     
  5. nycsavage

    nycsavage Junior Member

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    Trust me, you dont have to worry ;)

    I know a man *ahem* that worked whilst in Uni and still got his full student loan, student grant and a few other extras lol
     
  6. Bonken

    Bonken Newbie

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    im working part time aswell as being a student. Im paying tax from my job (PAYE) and earning roughly the same online will i be safe not declaring this online earning?
     
  7. nycsavage

    nycsavage Junior Member

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    My *ahem* friend worked full time picking up almost £500 a week and never declared it ;)
     
  8. homenet

    homenet Power Member

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    I agree with what CMS said. Basically if your holding down a decent job that pays tax/national insurance then I wouldnt worry too much unless your pulling in £1000 a week + If you can get paid via paypal then that is ideal because there are many reasons you would get paypal payments for non taxable income. Also you can get a paypal debit card so you can use your paypal account as a kind of bank account.

    I know exactly what you mean about claiming tax though, it sucks big time especially if your earnings arent that high.
     
  9. JCP21

    JCP21 Newbie

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    I agree, i think we have a limit on how much we are able to make per week before tax should be declared, i would worry if you are under 1k.