Registering as Self Employed while a full time student

bgamble

Does anyone know how registering as self employed while studying as a full time student, and in receipt of student loans and grants, affects me?

Is it something I need to report to the SLC, and does it affect the amounts I may get?

I need to register as a business (self employed is easiest) to get a business bank account, so that I can obtain a tax number from the US IRS, to sell a book through Amazon (Self-Publishing). The income will be minimal, and it wont actually involve me working any hours.

Thanks in advance

amiehall

It makes no difference at all. As a student, only your own UNearned income is relevant to your assessment. Self employed income is earned so means nothing.

Your actual plan seems odd. Why would an American buy books from a seller in the UK?

agrinnall

amiehall wrote: »

Your actual plan seems odd. Why would an American buy books from a seller in the UK?

Not sure why you think it's so odd. OP has rare book, somebody in USA wants rare book, QED.

tiger_eyes

amiehall wrote: »

Your actual plan seems odd. Why would an American buy books from a seller in the UK?

Self-publishing writers who publish through retailers like Amazon need an EIN or ITIN number from the American IRS to avoid the IRS taxing their royalties at 30%. Completely normal.

bgamble

amiehall wrote: »

It makes no difference at all. As a student, only your own UNearned income is relevant to your assessment. Self employed income is earned so means nothing.

Your actual plan seems odd. Why would an American buy books from a seller in the UK?

OK thanks for the info. I am not selling a used book, it is self publishing via createspace.

Mind you Americans buy books from the UK all the time and vice versa. That is the beauty of Amazon.

tiger_eyes wrote: »

Self-publishing writers who publish through retailers like Amazon need an EIN or ITIN number from the American IRS to avoid the IRS taxing their royalties at 30%. Completely normal.

Exactly my situation.

Thanks