It is a common misconception that money made online is tax-free. The truth is that you need to pay taxes on all your income, whether it is made in a traditional way or earned online. It is just that at most times the money you make online is less than the 'Personal Allowance'( a small amount earned in a year on which you do not have to pay tax). In this article I'll clear this misconception and provide links to help you gain a deeper insight on the subject. Paying Taxes on Money Made Online Defining Tax Investorwords define the word 'tax' as: “ A fee charged (levied) by a government on a product , income , or activity. ” [ 1] Who has to Pay Tax in the UK? The HM Revenue and Customs (HMRC) website states the criteria for paying taxes in a simple manner: “ If you work in the UK, you will usually have to pay Income Tax and National Insurance on your wages. How much you pay - and how you pay - depends on how much you earn, and wheth...
Ghostwriters' World is the brainchild of Tasneem Ali, an experienced author, freelance ghostwriter, copywriter and editor, successfully running her online writing business since 2013. Her articles have been featured in popular newsletters like Hope Clark's Funds for Writers. On her blog, she shares useful tips, tricks and secrets to succeed in the world of freelance writing and earn BIG!