Youtube Tax Return process?

[Sst]

Hi,

 

From April 2014 to April 2015 I earnt around about £2000-£2500 through Youtube and I'm wondering what I must do on the tax front for that entire year? How would I actually go about declaring it? The network is US ran and I never received any forms to fill out to send to HMRC so I sort of left it until now, been made aware that it comes under self employment and I must declare the earnings, yet I have absolutely no idea how to do so. I think the network tax your earnings if you are based in the US and are in touch with the relevant parties, however as I'm in the UK it seems to be up to me to sort it out.

 

Between April 2014 and April 2015 I also had two other jobs on the correct tax code, yet the second one kept emergency taxing me indespite being on the correct tax code for some odd reason. The reason I mentioned this is because the Tax Office actually know about these two jobs with the National Insurance and P45's attached as they were legitimate companies and not cash in hand work.

 

The Youtube earnings were also sent in Dollars through Paypal and then currency exchanged when it entered my bank account and the exchange rates fluctuate all the time so I can't be precise with the numbers when calculating.

 

Anybody know what I need to do?

Edited September 23, 2015 by Sst

[BazzaS]

Hi,

 

From April 2014 to April 2015 I earnt around about £2000-£2500 through Youtube and I'm wondering what I must do on the tax front for that entire year? How would I actually go about declaring it? The network is US ran and I never received any forms to fill out to send to HMRC so I sort of left it until now, been made aware that it comes under self employment and I must declare the earnings, yet I have absolutely no idea how to do so. I think the network tax your earnings if you are based in the US and are in touch with the relevant parties, however as I'm in the UK it seems to be up to me to sort it out.

 

Between April 2014 and April 2015 I also had two other jobs on the correct tax code, yet the second one kept emergency taxing me indespite being on the correct tax code for some odd reason. The reason I mentioned this is because the Tax Office actually know about these two jobs with the National Insurance and P45's attached as they were legitimate companies and not cash in hand work.

 

The Youtube earnings were also sent in Dollars through Paypal and then currency exchanged when it entered my bank account and the exchange rates fluctuate all the time so I can't be precise with the numbers when calculating.

 

Anybody know what I need to do?

 

 

"From April 2014 to April 2015 I earnt around about £2000-£2500 through Youtube and I'm wondering what I must do on the tax front for that entire year? How would I actually go about declaring it?"

 

Tax self-assesment return.

 

"I think the network tax your earnings if you are based in the US"

Worth finding out if US tax has been paid already : this could be taken into account and reduce your UK liability. (Say your UK liability would be £500 but you've paid £100 in US tax already : your UK liability becomes £400!)

 

"Between April 2014 and April 2015 I also had two other jobs on the correct tax code, yet the second one kept emergency taxing me indespite being on the correct tax code for some odd reason. "

Not odd. You get one personal allowance per year, not "one per job". So your main job uses the allowance given by your tax code, and you don't get an allowance for your second job.

 

"The Youtube earnings were also sent in Dollars through Paypal and then currency exchanged when it entered my bank account and the exchange rates fluctuate all the time so I can't be precise with the numbers when calculating."

 

Use your bank statements to add up what (pound sterling) sum you received. Use that figure as the extra income to declare.

[ericsbrother]

Question for you, what were the terms of payment and what was the original purpose of the youtube posting? Was it to make money or was being paid for it effectively purchasing a work of art or a right from you? There is nothing stopping you selling your own property for a profit, even intellectual property as long as the original inception was not to make a gain from it. So, I can sell a painting I do for my own pleasure for a profit but I cannot paint pictures with the idea of selling them without declaring any gain made. CGT would be payable if more than £11k a year was made. If you got paid per view then it would be safe to assume the money is income and should be declared via a SAR for the tax year. You will have to register as self-employed and that is simple in conceprt but difficult to get out of if it really is a one-off.

[Sst]

I will send a private message to the network later tonight to see if I contributed to the US tax system with every payment received.

 

I checked the HMRC website today and it's all a blur to me this. There are so many different kind of forms and I'm not even sure what category I come under with Youtube and the £2000 ish earnt between April 2014 to April 2015, and some of the stuff you must fill in I don't even know, such as UTR number I don't even have one, yet it said I must fill it in. Also received a random message today saying "UK Tax Return Services" in my email, not sure if that is a [problem] message or not, but I never receive spam and that one popped up a day after posting this.

 

The payments are from the ads and I play games so it isn't mine, but I do have the permission to monetize the content on Youtube by the policies put in place for the said games. I then get paid for the number of clicks, length people watch, different countries paying higher or lower rates etc.

 

I know exactly what I earnt for the entire year from Youtube and the jobs (both temporary on-going work) and it is just below £10,000 if my Maths is correct. The Youtube earnings I counted again last night as Paypal actually shows the bank account transfer in Pounds for every payment for the past year so I have the exact amount and it's around about £2000.

[ericsbrother]

You wont have a UTR that you can use until you register as self-employed, do this over the phone as it is instant once you get through to someone. The online bit will require input of a couple of codes you will be sent later

The email you have is spam so bin it.

Your total earings is below the tax threshold when taking your personal allowance into account.

The money is income not capital so subject to income tax if above threshold (see above)