> Do you have to pay tax onliine business?

Do you have to pay tax onliine business?

Posted at: 2014-12-08 
If you are only making a small profit occasionally it is more of a hobby than a business. If your sales start to reach the tax threshold then you will need to declare your income and do a tax return. Remember if you are treated like a business you can also claim expenses related to your business.

Most people have a tax free allowance of £10K per year. If your income is higher than that then you pay tax. Whether you are employed or self employed with an online business makes no difference.

I'm new to all this business stuff and I want to create my own clothing company selling 3 products at a time and I am wondering if I need to pay tax? Can you tell me if I do? And if I need to register the business

name although it is online , and what legal stuff do I need to know and I won't be making a profit over £350