What do i need to do - Tax

[Dillmiester]

Im going to try and make providing Disco's a regular business now so I need to know what i need to do.
I have a full time job so i pay tax for that in the normal way.
Now i understand that I also need to pay tax if i earn further money from any other income (Discos).
Is there a limit i can earn before paying tax?
How do i go about paying tax (i seem to recall it can all be done online).
Is it best to register as a business, are there any benifits to this?

Your help is much appriciated.

[Solitaire Events Ltd]

You really should have registered with the IR years ago when you started even if you don't make any profit.

I would advise getting a good accountant as soon as possible.

[daz226]

also if your disco business started more than 3 months ago then the IR will automaticly send you you a bill as it gives you 3 months to register

[Shaun]

Im going to try and make providing Disco's a regular business now so I need to know what i need to do.
I have a full time job so i pay tax for that in the normal way.
Now i understand that I also need to pay tax if i earn further money from any other income (Discos).
Is there a limit i can earn before paying tax?
How do i go about paying tax (i seem to recall it can all be done online).
Is it best to register as a business, are there any benifits to this?

Your help is much appriciated.


http://www.hmrc.gov.uk/startingup/index.htm

HM Revenue & Customs also run free workshops to explain the ins & outs of running a business (from a tax-viewpoint). I've heard these are quite good. Call up your local HMRC office and ask about them.

[Dillmiester]

Thanks for your help chaps, top advice as always.

[markthedoc]

http://www.hmrc.gov.uk/startingup/index.htm

HM Revenue & Customs also run free workshops to explain the ins & outs of running a business (from a tax-viewpoint). I've heard these are quite good. Call up your local HMRC office and ask about them.

I've attended a couple of these courses, I found them very useful.