PayPal online business HMRC

FrankR

Hello,
I am a student (I'm not currently in full-time employment).
I earn about £40-50 every day (small online business) proofreading & editing academic journals from a Chinese University. This money is sent directly from China to my BUSINESS PayPal account.

1. Do I have to pay tax on this? (or am I allowed to earn a certain amount before I pay tax)?
2. Is my PayPal business account linked to HMRC?


I don't know much about this, so some help would be great.

Thanks.

Browntoa

https://www.theguardian.com/small-business-network/2017/jan/27/small-business-etsy-ebay-hmrc-tax-return-self-assessment


HMRC can obtain account data from PayPal – the online payment company owned by eBay – from smartphone app stores run by Apple and Google, and from holiday comparison websites and a host of other online retailers




but you do have a personal tax allowance


The standard Personal Allowance is £11,500, which is the amount of income you don't have to pay tax on

Pennywise

Even if profits are below the £11.5k tax allowance, you still have to declare your profits. You may also be liable to NIC if your profits are over ~ £6k. In fact, there is no lower limit for registering with HMRC as a business and declaring profits each year. Whether or not you are liable to tax and/or NIC isn't relevant, you have to register and declare even for profits of a pound.