Hi,
In addition to my fulltime job I own a couple of websites that are hosted in the US and I provide some eservices to customers. My income from the websites will be around $350 this month which is paid directly into my bank account. My income from providing eservices is around $400 which is paid via paypal. I deal in dollars unfortunately as 90% of my customers are from the US.
My questions are:
1. When should I declare this income to the taxman and how much will be taxed?
2. Should I register a company for my part-time venture?
I have very little knowledge of taxataion/setting up a company (I'm a tekkie). Any advice people can give would be appreciated..
In addition to my fulltime job I own a couple of websites that are hosted in the US and I provide some eservices to customers. My income from the websites will be around $350 this month which is paid directly into my bank account. My income from providing eservices is around $400 which is paid via paypal. I deal in dollars unfortunately as 90% of my customers are from the US.
My questions are:
1. When should I declare this income to the taxman and how much will be taxed?
2. Should I register a company for my part-time venture?
I have very little knowledge of taxataion/setting up a company (I'm a tekkie). Any advice people can give would be appreciated..