Hi guys, now I know there are hundreds of web design companies out there, but just humour me for a moment. I have a few questions about setting up a company, firstly do I have to pay tax on my revenue? I live in the UK and right now I am unsure as to weather or not I need to.
Secondly do I have to register my company name or something?
I couldn’t find anything specific to UK taxes, but in short: yes. It really depends on how much you’re bringing in. If you’re living at home with your parents and your just doing it for a little extra money (maybe £400/month), then you might not need to bother (and your clients don’t mind paying under the table either).
If you’re living on your own and it’s your primary source of income, then yes, of course, it’s just like any other job.