Tax payable on internet earnings

[snook]

I'm thinking of doing some business on the internet, and was wondering about the tax situation. It would be in my own name, not a company. Do I have to be completely up-front about it, or should I just keep it to myself? I'm not trying to get out of paying tax, just concerned that I might end up paying more than is necessary.

I suppose another aspect of this is that I'd be easily tracked, I suppose, if the tax people want to check up on these things. So is there a way of being less conspicuous? God, I sound like some sort of criminal! Really, I just want to pay as little as possible, which is tax avoidance, rather than evasion, I believe.

Any ideas?

[Loosehead.]

I would suggest that you contact your local tax office and arrange to pay UPFRONT. If you send the a cheque for around �10,000. now this should cover any liability for your anticipated profits next year.

[Weird-Minter]

I`m glad to see that Loosehead is her usual daft self. The figure should of course be nearer �25,000.

[snook]

Wow, thanks, I'll get the cheque in the post first thing Monday morning!

[Buenchico+]

Hello, Hello, Never Fear - Buenchico is now here. So get ready for 357 pages of utter nonsense which makes ME feel good although it will bore you death.

Under the Internet Trading Act of 1929 Section 1876, subsection 976 It shall be an offence to trade on the internet without specific permission from Chris - the Buen-CheekyChappy-Chico (THATS ME).

I am entitled to a commission of 105% of every sale you make - this is regulated by the Iternet (BuenChico) act of 1932, section 12876 seub-section 19876 etc.

Notwithstanding any mionies obtained under the above section, I am authorised to inspect EVERY sale and select any that I think should be retained by me - this is regulated by the Buenchico Act ( miscellaneous Provisions) of 1896.

Furthermore any profits that you make shall be seized to pay for my Gay Wedding next Friday.

[Loosehead]

I am the real Loosehead, there is an imposter.

Yes you are technically liable and any income you make should be declared on your tax return,

[snook]

BuenChico, you cheeky devil, your system seems flawless. I'm so grateful to you for giving me the opportunity to benefit by it. You've certainly put my mind at rest - expect your first commission cheque to arrive post-haste, together with a full list of my products for you to scan and select from.

And your abundant and unashamed gayness is like a breath of fresh air in a foul smelling world, my pretty little friend. Go in peace, and spread the BuenChico message hither and yon, like cheeky little giggles in a roomful of dull and shy people.

Have fun spending your well-earned 'mionies'.

Good luck with the wedding!

[Buenchico]

Just a note from the real Buenchico. (The one without the + at the end).

While I feel flattered that someone thinks that it's worthwhile to impersonate me, I'm not too sure about the last sentence in their contribution. Is that a proposal of (gay) marriage? If so, please post a photo of yourself (together with a copy of your most recent bank statement) for my consideration. In the meantime, I'll try to keep next Friday free :-)

Chris

[gen2]

Is that Weird-Minter an impostor as well? Shouldn't it be Ward-Minter?