NoodleMan06 asked:
I am 17 years old (soon to become 18) and am thinking of starting an on-line web hosting business . Obviously due to the nature of the internet customers may be from around the world.
I am 17 years old (soon to become 18) and am thinking of starting an on-line web hosting business . Obviously due to the nature of the internet customers may be from around the world.
Would I have to pay tax on any earnings? If yes, were would I go to find more information about this works / how to pay.
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notmarriednochildren 12.31.08 at 10:17 pm
UK residents are taxed on their worldwide earnings. You wil need to register with HMRC and keep records of your business income and expenses.
Therefore, yes, you will pay tax on an internet business.