Tax and all that good stuff :)

[Ole]

Okay; i'm not sure where to start with this- or where to look.

I live in the UK, and i need to know when i need to start looking at paying tax. And how i go about doing it :X

I'd like to know whats the minmium you need to be earning monthly/yearly to start paying tax. E.g. Do you start paying tax when your site is earning over £5,000 a year or what :X?

Anyone with sufficent knowledge on this subject, especially in for the UK, would be greatly appreciated. No bs, thanks :D

[Patrick]

For 2007-08 the tax allowance for under 65s is £ 5,225.Above this amount there are a number of tax bands - each taxed at a different rate:

Source
http://en.wikipedia.org/wiki/Taxation_in_the_United_Kingdom#Income_tax

[Haywire]

In canada you have $9,000 non-taxable income a year, once you reach $9,000, you are going to have to start paying your taxes to Mr. Tax Man. Otherwise, they can take you for everything you have :P

[Lunarflight]

Anyone remember what the US is? Man, I should know this after dealing with company taxes all day. XD

[MishieMoo]

In the US it's really low--around $2,000 I think as I've had to pay taxes for the past two years x.x

[anonym]

I've just registered for Ichumon but haven't had chance to look around yet. From what I've seen from your "about us" page the site will be a success. You will find everything you need regarding UK tax on this link :-

HM Revenue Customs: Self Employed (http://www.hmrc.gov.uk/selfemployed/)

Read it well....and Good Luck