If your selling new products on the internet how long before you have to tell the tax man? Ive started up at begining of month selling products on ebay, and so far have made a good packet so im gonna stick with it but how long is it before i have to tell the tax man? 3 months aint it? and how do i go about registering ect? Regards.

 

what you selling then?

 

Yep 3 months and just phone the nearest tax office to you, it is easy and only takes a few mins on the phone

 

Quad parts pal

 

Do they bend you over and screw ur ass or do you just pay a little bit?

 

You will be lucky if you pay anything in the first year - two years with tax all depending on your income though

They will get you signed up to instantly pay national insurance via direct debit or send you a invoice but it aint much, if you think you will earn less than £4500 in the first year you can apply to opt-out from N-I contributions !!!, I personally am employed aswell as self employed doing car valeting and opted out from secondry NI contributions and it was accepted , you just dont know what you wil earn in your first year so they cant really argue with you but then again they get bloody plenty from me in my employment contributions anyways

 

Im a retained firefighter too so i already pay NI and Tax on that job, ill ring them when my 3 months are nearly up

 

Do you just have to have a business account etc to make sure your self employed earnings are seperate?

Sorry if it's a stupid question, it's just i'm looking to do simliar (self employed while still working) and i'm just not sure how to go about it all really