Quote:
Originally posted by Sunny_01
I would not even think about messing about with taxes unless you know what you are doing, it isnt as easy to cover things up as you would imagine. Also as a sole trader (self employed) that is not registered for VAT you have far less you can claim as deductable from your earnings.
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I've been researching it for most of the day. As far as tax goes all I've found out is that you
have to pay a Class 2 rate (£2.20/week) and maybe a Class 4 rate which I haven't looked into properly yet. But I'm not sure if I want it to be a business or just an online trader just getting a bit of money alongside my wages. If its successful then I'd turn it into a business and pay tax, but not straight away.
Its definitely going to be something I'm going to look into though.
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