News0 min ago
tax evasion
after reading the post about 'would i be in order?' i havejust remembered something.
There's a boy at my school who has his own business and claims that he has earnt a couple of thousand pounds since he started it up last autumn.
When i said 'yeah but you have to pay taxes'
he said 'i don't need to.'
he said that it was because it is a private company and he is the sole owner of it but i would think that it is because he is under 16.
He is 15, is this correct that he doesn't have to pay tax?
There's a boy at my school who has his own business and claims that he has earnt a couple of thousand pounds since he started it up last autumn.
When i said 'yeah but you have to pay taxes'
he said 'i don't need to.'
he said that it was because it is a private company and he is the sole owner of it but i would think that it is because he is under 16.
He is 15, is this correct that he doesn't have to pay tax?
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I told him today that it doesn't matter your age, you still have to pay tax if you earn enough (i printed the pages from the council website). And he said that he had asked an accountant and a soliciotor and he said that they said that he doesn't need to pay tax. Plus he said that the council put that on there because they want to get more money from people.
I told him today that it doesn't matter your age, you still have to pay tax if you earn enough (i printed the pages from the council website). And he said that he had asked an accountant and a soliciotor and he said that they said that he doesn't need to pay tax. Plus he said that the council put that on there because they want to get more money from people.
Even if you did grass him not much would happen. He's probably not earning enough and if he is it's probably not much more. He can also claim ignorance at his age and all they would do is tell him how to do it in future. The tax man really have bigger fish to fry than worrying about a 15 earning a few quid too much.
LMAO...
nix-j-c read this it will probably answer all your questions.
http://en.wikipedia.org/wiki/Jealousy
nix-j-c read this it will probably answer all your questions.
http://en.wikipedia.org/wiki/Jealousy
I asked him today, exactly how much he had earnt.
He went onto his accounts and i saw that it was just under �7000 since the business was started in the autumn.
Which is enough to pay tax.
Plus i asked him how his website desinging part of the busines is going and he said that he doing one for the local Air Cadets and i asked him how much he is charging and he �250. So i said 'they are a charity and you earn so much so why are you charging them' and he said thats its a business and thats what you do. But if i was him i wouldn't charge a charity. would you? especiallyif they have to do almost all their own fundraising and get very little from the mod (theres a couple of air cadets at my school and i asked them)
He went onto his accounts and i saw that it was just under �7000 since the business was started in the autumn.
Which is enough to pay tax.
Plus i asked him how his website desinging part of the busines is going and he said that he doing one for the local Air Cadets and i asked him how much he is charging and he �250. So i said 'they are a charity and you earn so much so why are you charging them' and he said thats its a business and thats what you do. But if i was him i wouldn't charge a charity. would you? especiallyif they have to do almost all their own fundraising and get very little from the mod (theres a couple of air cadets at my school and i asked them)