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Old 11 April 2018, 15:14   #1
LucasP
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Not 100% relevant but still need help!

Hi everyone. Hope you're all well! I buy, refurbish and resell old hardware (mostly not quite as old as Commodore stuff) and occasionally do phone repairs if someone comes to me asking for one. However, recently I'm starting to gain more traction with it. I'm a college student full time and work part time. If I do as many hours at work as I plan to do over the summer I will go over the personal allowance limit here in the UK according to this tax calculator. Will this matter? I don't pay tax on any of my income currently so not sure what to do.

Cheers!
L
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Old 11 April 2018, 17:52   #2
puppypc
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I'd recommend asking on Reddit, maybe /r/taxes or /r/smallbusiness. I know how this all works in the US, but won't bother giving you worthless advice.

If the UK is anything like the US, then you should be subtracting your business expenses (tools, supplies, shipping, etc) in order to find your income.
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Old 11 April 2018, 20:18   #3
rothers
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Well if you go over the limit you need to do a tax return and pay national insurance.

There are a whole lot of ways of keeping under the limit if you're just going to be around that area of income.
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