Business Tax Help Homepage

Small Business Tax Deductions

Business Tax Returns

Business Tax Software

Taxes And Businesses

Business Tax Filing

Business Tax Rate

Business Tax Credits

Self Employment Tax

Online Business Taxes

Business Tax Preparation

Business Tax Deductions

Business Tax Planning

Small Business Taxes

Business Tax Id

Business Tax Help

Home Business Tax

Business Tax Forms

Franchise Tax

Corporate Tax

Small Business Tax Services

Business Tax Help Homepage

Powerful business tax help information

Get your biggest tax refund, guaranteed. Plus FREE Expert Tax Advice. Download TurboTax® for Windows now.

Business tax help please!?

Question: Business tax help please!?

(Posted by: on 2011-11-15 10:28:16)

I am 14 years old and I am starting a fashion jewellery business with my mum. We have done our calculations and would make around £30, 000 a year. What business taxes would we have to pay? And because we’d be doing it from home, are there extra taxes to pay to do with that? THANK YOU!


Posted by: Onestep downfrom God on 2011-11-15, 12:28:31

Http:/ / en/ MoneyTaxAndBenefits/ Taxes/ BeginnersGuideToTax/ index.htm?cids= Google_PPC &cre= Money selfemployed/ register-selfemp.htm


Posted by: Petrusclavus on 2011-11-15, 14:13:31

£30’000 profit – split two ways? Self assessment, an account each; or SA with a partnership SA account and SA accounts each. From home – planning permission may be needed for the premises (check local council website) are you making or bulk buying and reselling? If part of the house is “set aside ” solely for the business then you can claim tax allowances. If you are confident of the profit perhaps a limited company? Hate to say it but you need to pay an accountant for a consultation.


Posted by: DR + Mrs Bears face on 2011-11-16, 00:08:32

In addition to Petruscl comments. If you have a mortgage the mortgage company may have restrictions on running a business from home.The house insurance may want to know too. If you claim tax benefits on using part of the house for business if you ever sell the house the part considered business rather than residential will be liable for capital gains tax.


Powered by Yahoo! Answers®

Back to Previous page

Payroll outsourcing. Trusted by over 500K U.S. businesses. Get a free quote at Paychex® today!

Online Tax ID Number Application

Bookmark Business Tax Help Homepage

Sitemap | Terms of Use | Privacy Policy | Contact

© copyright 2011-2012, All Rights Reserved.

Legal Notice: This website is powered by Amazon®, Adsense™, Yahoo!® Answers and Youtube™. All trademarks are copyrighted by their respective owners. Please read our terms of use and privacy policy.