Help!!!

[bluishbob]

Hey all,

Now please be gentle on me, i have had a good search but i need someone to spell things out to me.

Obviously u am under 18, i earn hardly anything from the disco, so i don't have to wory about tax/vat.

PLI/PAT are sorted.

PRS / Digital DJ, i am ignoring for the moment.

What other legal things do i have to do, if any???

Is there anything, do i have to declaire my self as a business or can i get away without it (as anything would be real hard work as i am a minor).

WHat are your thoughts?

[Corabar Entertainment]

I believe that any income earned by a minor (which in the case of tax is under 16, not 18) is technically treated as part of your parents income and taxable as such.

Once you reach 16, you will need to pay tax in your own right.

[Solitaire Events Ltd]

I believe that any income earned by a minor (which in the case of tax is under 16, not 18) is technically treated as part of your parents income and taxable as such.

Has that changed then Ang? When I was younger I had to fill out a P (something) form to tell the revenue that I didn't have to pay tax. I don't remember it affecting my parents in any way, though it was a long time ago!

[TonyB]

I started work at 15 and was taxed as an adult would be. The only thing i didn't have to pay was national insurance until I was 16.

That was 31 years ago and it may of changed

[Corabar Entertainment]

I've just had a quick look on the IR site and it would appear from a quick glance (so I'm not sure this is the WHOLE 100% accurate picture) that they have the 'treated as income to the parents' rule in force for things like dividends paid on shares, etc if the income is in excess of £100pa. However, it seems that minors have the same tax allowances as adults, so if it is direct general income it should be treated the same as if it were earned by an adult - ie with the same personal allowances, etc! Now, whether that means that a tax return needs to be made, or whether it means that there is some sort of form that can be sent in just confirming earnings are below personal allowance threshold, I'm not sure.


..... then again, there are strict laws about when minors can work anyway, aren't there? ..... but that's a whole different subject in itself!

[Solitaire Events Ltd]

I thought there was a form you can fill in to exempt yourself if you're a student? There always used to be.

[mb3]

You must register as Self Employed with the Inland Revenue within a period of (I think) 3 (6?) months of starting.