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Posted Sun, 18 Feb 2024 15:23:57 GMT by
I made £6000 last year im planning on making this amount every year. I do not have a job and I make this money through an online website made in the US. This is my only source of personal income at the moment and I receive the money in USD on my Paypal account. I then transfer it to my bank account which then causes it to convert it into GBP. This is under the standard personal allowance of £12,570. I do not need to be taxed on this right?
Posted Tue, 20 Feb 2024 16:25:57 GMT by HMRC Admin 10 Response
Hi
The income will be covered by your personal allowances so that no tax is due. However, as it is foreign income and self employment, you need to complete a tax return to declare this.
Posted Sat, 14 Dec 2024 20:27:22 GMT by ada_90 Yates
I am a dual citizen, Turkish and British. I moved back to Turkey, however, I have a business on Etsy where my payments come to my UK Paypal in USD. So, I convert them to GBP and send them to Turkey. It is under 12000£ Do I need to pay tax? I also have a savings account where I make 30-40£ per month. What do you advise me to do? Thanks.
Posted Fri, 20 Dec 2024 14:38:34 GMT by HMRC Admin 32 Response
Hi,
Please refer to:
Tax on your UK income if you live abroad
Thank you.

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