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bigduckontax
bigduckontax, Accountant
Category: Tax
Satisfied Customers: 7290
Experience:  FCCA FCMA CGMA ACIS
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I am a bit clueless when it comes to tax and need some help.

Customer Question

Hello, I am a bit clueless when it comes to tax and need some help. I have a full time job which I pay all the necessary tax on. I am thinking of selling videos on the internet through an american company - if I make any money from this, will I also need to pay tax on this?
JA: For which tax year do you need help?
Customer: The upcoming year.
JA: Anything else you want the Accountant to know before I connect you?
Customer: No thats evething
Submitted: 1 month ago.
Category: Tax
Expert:  bigduckontax replied 1 month ago.

Hello, I am one of the experts on Just A swer and pleased to be able to help you with your question.

 

Yes, you will! You should register for self employment, the procedure is here:

 

https://www.gov.uk/log-in-file-self-assessment-tax-return/register-if-youre-self-employed

 

Onae registered HMRC will send you a self assessment tax return for completion at the conclusion of each tax year [5 April]. You will declare your video income and your employment income and HMRC will send you a bill for any Income tax (IT) and NI contributions outstanding.