Affiliate Marketing Earn Money
can you be employed and self employed at the same time (UK)?
Ok so basically i have a job, but lets say i wanted to earn money online aswell through affiliate marketing and webcam model which is a self employed business, how would i go about paying taxes
You would become a sole trader..this basically means you are an employed, self employed individual.
You would need to register as self employed. You can do this by phoning the newly self employed helpline, although the number i can’t remember.
They will register you and allocate you a UTR (Unique Tax Reference) number. You need to keep all reciepts, invoices etc for a minimum of 6 or 7 years each. These will enable you to complete your tax return. You will need to declare all self employed and employed earnings either on paper by the 31st of October every year or the 31st January online, each year. I recommend online as it gives you your liability calculation then and there and you can arrange to pay it.
It’s all very straight forward, although i must warn you, you will be penalised for not keeping your records, filing your returns or making your payments..and even if you decide you no longer want to be SE…because you have registered…you may still get tax returns for years later..you MUST fill them in..it’s a legal document.
If you need to know anymore about your filing, payments on account, or ways to reduce your liability just ask.
Hope this helps,
Claire.
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