Clickbank Income Tax

mlawton40

Hi,

I'm new to making extra money. I have a full time job but have just started out as an affiliate by using clickbank.com.
With any extra money I earn from clickbank do I need to declare any income tax or anything?

Example: I get sent a cheque for $234 from the US. I take it to Natwest to bank and after all the charges and conversion end up with about £100. Does that mean I have to tax that £100? I'm confused.

Thanks, Mark

scotsbob

All earnings have to be declared.

Whether or not you paye tax depends on your personal allowance, other income etc etc. The taxman will work all that out for you

payless

yep running a website ( or blog/ click thro's ) with affiliate links is a business and and such income is declareable ( after expenses).
see http://www.hmrc.gov.uk/selfemployed/register-selfemp.htm

Might be better if they could do the currecy exchange at their end ( like CJ does) or pay via paypal .. as exchange costs would be less

Would have thought you would have had to sign some US tax waiver ( I did when earning from a US site )

mlawton40

Thank you for your responses!!

I'm not expecting to earn a great deal (some months I won't earn anything) and some only sort of £20. I understand I will obviously still need to tax these but I also notice I may need to pay National Insurance which is £2.40 a week - would I still have to pay this if I didn't earn anything in the month? Because if I do this I can see myself actually losing out on money over the year rather than earning an extra income...

payless

You register for NI

class 2 collected at £2.40pw but can claim exemption if profit less than £5,075pa

+
Class 4, calculated as part of your tax return if profits over
£5, 715 per year