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Tax income UK Cj,Ad

Discussion in 'Legal Issues' started by Mr.tyro, Aug 28, 2008.

  1. #1
    I some questions. I am 17 years of age and running a site, it creates some minimal revenue from affiliate sales and add sense clicks.

    But the problems is that it is on one of my parent names and im thinking of changing everything to my name because they could get in trouble.

    I know your allowed to earn 5k a year in UK tax free so im clear of that line but how will i manage to run CJ and Adsense on my name? It doesn't say how old i am on checks or anything like that?

    How much would it cost to get an accountant for one of consultation? My site doesent generate much revenue with hosting costs i probably only make 100 dollars if that.

    And if i go for consultation for someone would i get penalized automatically without getting help?

    Edit: If i fill in my income for an independent tax for or something along those lines how would i claim business expense if all of the bills come in my parents name? Would i have to get a sign receipt from my parents that i pay them for using there services?
     
    Mr.tyro, Aug 28, 2008 IP
  2. MelogKnaj

    MelogKnaj Guest

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    #2
    If you are under 18 you can't sign a legally binding contract, which means no bank accounts, cj accounts, adsense accounts etc. What you can do is get the accounts in your parents name, you just need their permission and you need them to cash the checks in their name. Alternatively you can just wait until you turn 18.
     
    MelogKnaj, Aug 28, 2008 IP
  3. Mr.tyro

    Mr.tyro Guest

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    #3
    Thats what ive have been doing but wouldn't they have to pay tax for profit made?

    And i have a bank account?
     
    Mr.tyro, Aug 29, 2008 IP
  4. MelogKnaj

    MelogKnaj Guest

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    #4
    I don't know about tax law in the UK. In the United States you must pay taxes on all earnings over $600. If you want to receive payments from Adsense or CJ you are going to need a bank account, and you need to be over 18 to get a bank account.
     
    MelogKnaj, Aug 29, 2008 IP