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Posted Fri, 03 Nov 2023 23:28:40 GMT by
I have a youtube channel back in my country but recently relocated to the uk. I have a lot of workers working on it and I pay them monthly from the earnings. I want the earnings from the channel to be paid into my Uk bank account and then pay the workers from my UK bank account. Do I pay tax on the entire earnings from my channel or only on the money left after I have paid the workers? And also do I have to register I as a sole proprietor or I can still operate without registering it as a business in the UK?
Posted Wed, 08 Nov 2023 17:52:59 GMT by HMRC Admin 25
Hi Joepixxy,
You will need to register for Self Assessment, as self employed.
Working for yourself
You would complete a Self Assessment tax return to declare the gross profit from your youtube channel, in SA103 (self employed information) and claim expenses for the wages paid out etc.
 You would then be liable to tax / National Insurance on the business  net profit.
Expenses if you're self-employed
Thank you. 

 

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