Question for Brits?
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I intend to give up my dead end job at the end of the year and start trading on ebay to earn a living. My boyfriend earns a really good wage and can support us. My question is how much can I earn before I have to declare it for tax purposes? I won't be claiming any benefits of course. All advice/info very much appreciated.
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Answer:
If you're trading on ebay, you're self employed, so register with HMRC for Class2 NICs within 90 days of commencement. Otherwise you'll incur a £100 fine. You are liable for tax if your net profits (as adjusted for tax purposes) exceed £5435 in the current tax year.
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