I will be checking with my accountant first as it would probably be a different VAT scheme altogether.Under the current transport category I collect 17.5% on all earnings and only have to pay 9% to the VAT office.I have also been informed that if you earn less than £10,000 a year as a second income, you could legally treat it as your hobby and not pay any tax.Is this true or just another urban myth? ( sorry for all the questions! )
I will be checking with my accountant first as it would probably be a different VAT scheme altogether.Under the current transport category I collect 17.5% on all earnings and only have to pay 9% to the VAT office.I have also been informed that if you earn less than £10,000 a year as a second income, you could legally treat it as your hobby and not pay any tax.Is this true or just another urban myth? ( sorry for all the questions! )
Linear Mode
November 2009
