Self assessment-is an accountant needed?

kinger101

Jeremy535897 said:

You would be best studying websites like this first:
https://www.mytaxaccountant.co.uk/post/youtubers-pay-taxes
I suspect the sale of the channel is income rather than capital gain.

Unlikely unless the purpose of creating the channel was to sell it.  

Highlights why one should use an accountant or tax advisor if unsure.

dont_use_vistaprint

Jeremy535897 said:

You would be best studying websites like this first:
https://www.mytaxaccountant.co.uk/post/youtubers-pay-taxes
I suspect the sale of the channel is income rather than capital gain.

I was thinking the same, it’s just sales revenue ,  a YouTube channel does not represent a business entity or asset on the FAR , but I guess it depends exactly how the company and asset register are setup 

sparkiemalarkie

Thank you for your comments

I'm still very confused - 
Does only the income from tax year 2023-24 have to be dealt with by 31st January 2025 ?

I have edited the first post re income from Youtube channel (transposed 2 numbers  )

Many thanks

sx

[Deleted User]

sparkiemalarkie said:

Thank you for your comments

I'm still very confused - 
Does only the income from tax year 2023-24 have to be dealt with by 31st January 2025 ?

I have edited the first post re income from Youtube channel (transposed 2 numbers  )

Many thanks

sx

It does. However, as you have altered your income somewhat in your first post, you may have a payment on account for 2024/25 depending on your final tax liability for 2023/24.