Hey, I have a small business on TikTok shop that has been doing quite well. I also sell on ebay. I’m currently setting up my Shopify store as I’m hoping to expand. However, I’m wondering whether I should be paying tax, charging VAT etc for items in my shop.

It’s not a registered business and I have no employees. I have been keeping account of all my spendings & earnings but I feel like I’m supposed to pay some kinda tax. If anybody is in the UK & has any knowledge of how the taxes work for small businesses, I would really appreciate ANY advice. I’ve been on the govt websites & it just doesn’t make sense to me.

Thank youuu

  • Caramel-JuiceOPBEnglish
    1·
    1 year ago

    thank you, so does this mean that I pay VAT if I’m making over £85,000 a year because I saw elsewhere that only the first £1000 a year is tax free then you have to start paying VAT. Is that right/?