Film, Media & TV5 mins ago
Will I have to charge tax?
I am planning to start a website and was thinking of making it possible for shops and businesses in my local area to advertise job vacancies and place ad banners across the site for which I will charge. I'm not a registered company, just an individual doing this as a hobby. I'm not up on the whole tax thing; will I have to charge tax for advertising job vacancies and banners? Will I have to register as a company before I go ahead and do this project? Any help would be appreciated.
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For more on marking an answer as the "Best Answer", please visit our FAQ.That's completely wrong termabulan. You MUST register as self employed if you are trading as an individual or partnership. You have to inform the HMRC within three months.
Whether or not the OP has another paid job is compeltely irrelevant to the issue.
VAT will, as previously pointed out, not be a factor unless you are very quickly turning over a lot of money.
Potentially self employed National Insurance will be payable at �3 a week or whateer it is these days but if you are seriously playing at it then a de minimis limit applies and no NI is payable. You need to apply for exemption though.
You do not need to be a company to trade, you can do it in your own name or as a partnership but either way it will have to be properly registered and it fundamentally doesn't make a lot of difference which route you go down.
Whether or not the OP has another paid job is compeltely irrelevant to the issue.
VAT will, as previously pointed out, not be a factor unless you are very quickly turning over a lot of money.
Potentially self employed National Insurance will be payable at �3 a week or whateer it is these days but if you are seriously playing at it then a de minimis limit applies and no NI is payable. You need to apply for exemption though.
You do not need to be a company to trade, you can do it in your own name or as a partnership but either way it will have to be properly registered and it fundamentally doesn't make a lot of difference which route you go down.