Advice please

[MissTSX]

Hi so we pay VAT on the site, do we also have to file taxes if this is our only job?
Please help.

[Ana_X]

Assuming you're in the UK you should be informing inland revenue that you're earning and declare your income, yes.

[savannahyasmine]

UK residents, self-employed are responsible for their own tax

http://groups.adultwork.com/LotusDommes+

[3CA]

Hi so we pay VAT on the site, do we also have to file taxes if this is our only job?
Please help.

Tax isn't easy to understand so I'll try and keep this simple.

1. If you're self employed (which you will be if you earn money through AdultWork ) you have to register with the tax office (HMRC).
   
2. Depending on how much your profit (income minus expenses) is you may have to pay national insurance or income tax.
   
3. You're not allowed to avoid registering because your income is so low you will not have to pay tax (or national insurance ).
   
4. A tax year runs from 6 April to the following 5 April.
   
5. You have to register on or before 5 October following the tax year when you started or you may have to pay penalties.
   

Two bits of advice:

• Keep a record of all your expenses to keep your profit and therefore your tax as low as possible
  
• Once you have a reference number from the tax office you may be able to stop AdultWork charging you VAT.