how much? UK
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- edsplace
how much can i earn before i have to become VAT registered in the UK?
- ********0
56k
daft eh?
- edsplace0
seriously?
so if i keep my regular job and do other work weekends and evenings i can earn up to £56k before having to register?
that's fantastic
- ********0
so long as you're not charging VAT yes.
ahem.. You still have to pay tax though.
- mistermik0
thought it was 67k
so keep your full time and do 67k of freelance.
- edsplace0
yeah the tax goes without saying!
thanks fantastic news...
i guess that's why they call you max prophet!
- edsplace0
so i don't need to start a business account do i?
so long as i keep my tax separate i can be paid by a personal cheque?
no need for business accounts or anything? i went into a bank a while back... no help! just tonnes of paperwork
- agentfour0
if you are a company/ltd company, yes you need a business account. You need to make an appointment with someone at your bank who deals with business. They will set it all up for you.... not too hard.
- WeLoveNoise0
50k
- we just making up numbers now?mistermik
- was that not the game :)WeLoveNoise
- hahahhamistermik
- edsplace0
ok so my question is...DO I HAVE TO?
can i work out of my living room, be paid by personal cheque, without having to register as a company?
i'm more than happy to pay my taxes... the small business people at the banks i've been to have been no help.
- mistermik0
do you have to do what?
if you charge VAT then good luck earning 67k from your bedroom.
Worry about it later.
- edsplace0
1, do i have to become a business to start earning from side projects?
2, at what stage do i need to start thinking business accounts etc?oh and thanks for your good wishes mistermik... i'll remember to send you a postcard when i'm holidaying with simon cowell on his luxury private island!
- babaganush0
1. No
2. When/if you become a ltd. company
- calculator0
I think you need to tell the tax office that you're self employed, and you'll have to pay some more NI. But you don't have to be a 'company'.
- edsplace0
perfect thanks
- Dancer0
Why are you worried about being VAT registered?
Man, you're thinking bog already