Home› Home, Law & Money
If you need urgent support, call 999 or go to your nearest A&E. To contact our Crisis Messenger (open 24/7) text THEMIX to 85258.
Options

Registering My Website as a Business

Former MemberFormer Member Posts: 1,876,323 The Mix Honorary Guru
in Home, Law & Money
I'm wondering if i need to registger my website as a business and begin paying tax since it is starting to make an agreeable sum of money.
How would i go about doing this, and like, how do you start keeping reciepts etc? Alot of my revenue comes from advertising, and i don't get reciepts from it...

Comments

  • Options
    Former MemberFormer Member Posts: 1,876,323 The Mix Honorary Guru
    lol i'm sure the taxman won't worry about receipts for earnings, he'll be happy to take a cut of whatever you declare, now if you want to claim back for your expenses against tax i imagine you'll need receipts for that........
  • Options
    Former MemberFormer Member Posts: 1,876,323 The Mix Honorary Guru
    just out of interest what is your website? you can pm the link if you like if anyone has a problem or thinks you're spamming.
    ive been looking for a way to make money on the net for ages and it seems the only way lately is to either have something for sale or have a gimmick of some kind..
  • Options
    Former MemberFormer Member Posts: 1,876,323 The Mix Honorary Guru
    There's an ample amount of money to be made on the web, i'm by no means making enough to live on, but i've just realised that i might need to go about making it...official, so to speak.

    I think i might register it through http://www.company4less.com/ but any more advice is appreciated.

    Icey, my website sells (and gives away for free) custom coded PHP applications for other websites. I have to program them all myself, that can sometimes take a few weeks, then i have to promote them to get people who want these scripts to my site. So basically it's not an easy task.
    On the plus side, once they're developed, my website handles automated delivery and support so that side of things is really easy, and i usualy wake up every morning to find some new money has arrived in my paypal account :)

    If you're considering it, the easiest way to go about making money online is to write some really good content in a blog, stick google adsense on it, and get other bloggers to link back to your blog.
  • Options
    Former MemberFormer Member Posts: 1,876,323 The Mix Honorary Guru
    interesting, ta :thumb:
  • Options
    Former MemberFormer Member Posts: 1,876,323 The Mix Honorary Guru
    can you not just declare your earnings as 'other' rather than set up a company? do you have another income? are you eaning more than your personal allowance? You cna phone the tax office nad tell them that your hobby site is now earning money and ask them if and how you should declare it....
  • Options
    Former MemberFormer Member Posts: 1,876,323 The Mix Honorary Guru
    You could be a sole-trader and then you don't have to register the company with companies house, but you would have to register yourself with the VAT office as being self-employed if your business brings in a substantial amount of cash. And, to be honest, you should be keeping records for your own benefit.

    Read this page http://www.ukincorp.co.uk/s-1J-business-start-up-for-beginners.html to learn about types of company. Remember that that page is trying to sell you their "company start up" package, which is something you could do yourself.
  • Options
    Former MemberFormer Member Posts: 1,876,323 The Mix Honorary Guru
    Phone 0845 915 4515 to register as Self Employed (how sad am I that I know that by heart?)

    VAT wont come into it until your earning over 60k (I think, but check)
  • Options
    Former MemberFormer Member Posts: 1,876,323 The Mix Honorary Guru
    Yes, 60K is right.
  • Options
    Former MemberFormer Member Posts: 1,876,323 The Mix Honorary Guru
    PM Jooly-knockers or Char-baby as they both work for the Inland Revenue and might be able to give you some advice. You will have to register to be self-employed as running the website, even if you have paid employment elsewhere.
Sign In or Register to comment.