Paying taxes while having full time job

Oct 27, 2018
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Hello,

Receintly started dropshipping ,earned about 300£ in two months. This is my extra income because I do have full time work. Since I am uk resident I don't knoe much about the laws when or what taxes you have to pay on your earnings. So few questions.

1. Paypal asking to confirm my indentity and address. Is it for taxes?
2. What amount can be extra income and how much I have to earn to pay taxes?

So for now I just stopped dropshiping due lack of information about tax law in uk.
 

Jed

Feb 16, 2009
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Register as self employed, keep accounts. If your job earnings use up your whole tax free allowance then you'll pay your tax bracket rate on all of your self employed profits.
 
Oct 27, 2018
6
0
4
Register as self employed, keep accounts. If your job earnings use up your whole tax free allowance then you'll pay your tax bracket rate on all of your self employed profits.
Do I have to make registration or I can just continue selling and end of tax year I will pay taxes?
 

Jed

Feb 16, 2009
8,904
927
1,411
UK
Do I have to make registration or I can just continue selling and end of tax year I will pay taxes?
You need to register as self employed as soon as you start ideally however they're not super strict on that.
 

Jed

Feb 16, 2009
8,904
927
1,411
UK
But I want to work in my current job and have some extra income.

Can you please explain me about paypal asking personal information proof?
Yes, you register as self employed while working... you can do both.

I don't know about PayPal. If you want to use their services then you'll need to provide them what they ask for.
 

Jed

Feb 16, 2009
8,904
927
1,411
UK
Can you explain me how will I pay taxes on ebay income?
"Register as self employed, keep accounts. If your job earnings use up your whole tax free allowance then you'll pay your tax bracket rate on all of your self employed profits."
 
I would hate to advise you incorrectly but yes you should declare all your earnings. The tax office are extremely helpful so I would just give them a call and ask. It is a pain to set these things up but worse if you don't get it all put in place correctly right from the start. Good luck!
 
Perhaps if you are going to register as self-employed and keep everything in personal accounts, there will be no need to pay taxes. In any case, I have never encountered such situations because I have worked online jobs since my student years. My first job was GMP assistant and I got it with the help of Zizu, you can enter here. At first, it was hard, but I started to become more interested in this industry, and now I have my own investment and income company. Of course, plates charges, but only because I own a business, and that's it.