Tax for my business as a minor

I am 13 years old and have a really good business idea that no one has made but everyone wants. I have got a domain and my brother who is 16 has offered to help me with anything but I just want to know what tax I need to pay and how I do it. I expect I won’t make more than £1000 if that helps. Thanks

Hi Joseph If your total earnings from self employment the year are £1,000 or less there is no requirement to declare this. It’s called the trading allowance. If you were to go over £1,000 then you can register with HMRC to complete tax returns but you would have to do it manually and I believe you would need your parent to sign off as guardian also. You would need to pay tax on an annual basis but you would pay National insurance at this age. For the moment though you shouldn’t need to do anything. Good luck with your business.