15-09-2012, 13:15
Yes the £59 would be subject to tax as with any work.
For taxman, £59 = turnover minus expenses (electricity/broadband etc) = Profit in pocket.
Less tax is paid while in dailypay also as dailypay is a business expense that lowers your turnover shown to the taxman.
Majority of webcammers will have £0 tax to pay at the end of the year or next to £0.
Earnings are not reported to the HMRC or IRS so its up to the performer to declare tax if they wish.
For taxman, £59 = turnover minus expenses (electricity/broadband etc) = Profit in pocket.
Less tax is paid while in dailypay also as dailypay is a business expense that lowers your turnover shown to the taxman.
Majority of webcammers will have £0 tax to pay at the end of the year or next to £0.
Earnings are not reported to the HMRC or IRS so its up to the performer to declare tax if they wish.