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Posted about a year ago 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 about a year ago 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 4 months ago 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 3 months ago by HMRC Admin 32 Response
Hi,
Please refer to:
Tax on your UK income if you live abroad
Thank you.
Posted 10 days ago by Harry Langford
Hi, Got a question, so I started my apprenticeship in August 2024 and coming up to the end of the tax year in a couple of weeks, I haven't gone over my personal allowance which is £12,630, im estimated to earn just a little under it as i havent been working for the entire year. I'm estimated to pay £872 tax. Should I be paying income tax as I will not exceed the personal allowance amount?? If so what do I do? Regards.
Posted 5 days ago by HMRC Admin 25 Response
Hi Harry Langford,
If you have not exceeded your tax free allowance for the year, you should receive a rebate of any tax paid.
If this tax has not been repaid to you automatically through your wages, you should receive it when your tax record is reconciled following the end of the 24/25 tax year.
This reconciliation usually takes place sometime in May, depending on if we have all of the necessary information from your employers.
If your rebate is not present for you to claim on your Personal Tax Account by this point, and you have not received any other correspondence from us, contact us by webchat or phone here:
Income Tax: general enquiries
For progress

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