HRMC - Self Employment (Youtube)

Lil306

I tried running a search for youtube on the forums but there was a lot of results which I don't think target my needs

I believe the laws stand is you need to register as self employed when starting a business up with HRMC within 30 days. However I'm not starting a business up but recently received an invite from youtube to monetise my videos.

I only make them on my youtube channel and currently have a small amount of videos and views. Do I need to register with HRMC regarding this or can use it to supplement my income? The channel is mainly personal to me and I only upload videos of my own choice nothing to gain profit from only to help people

I'm prepared to register with HRMC, I understand it means I pay my own NICs, except I'm not making any money to recoup this loss (other than my normal weekly job)

HappyMJ

You should register as self employed. You can pay NIC's but as you won't earn much you can opt out. You will need to fill out a self assesment tax return each year and declare your profits and pay tax on those profits.

Lil306

HappyMJ wrote: »

You should register as self employed. You can pay NIC's but as you won't earn much you can opt out. You will need to fill out a self assesment tax return each year and declare your profits and pay tax on those profits.

TY, I'll get the forms to fill in tomorrow then

It's not really a business bank acc, but I have an instant access with HSBC that I can use for any incoming payments, will make it easy to track what (if any) money I have coming in.. haha

Ty for help

Hammyman

If it is going to be a miniscule amount and you're employed, HMRC may give you the option to pay through your PAYE code. Ring the self employed advice line and talk to them first.

Lil306

Hammyman wrote: »

If it is going to be a miniscule amount and you're employed, HMRC may give you the option to pay through your PAYE code. Ring the self employed advice line and talk to them first.

TY, I will probably ring the line first. I'm not even earning atm, but I can see my speculated earnings through the adsense information.