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Thread: New girl...stressed about tax.:/

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    Senior Member Rosannaxox's Avatar
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    Default New girl...stressed about tax.:/

    Hey

    A bit about me:
    i started being a camgirl about two weeks ago. i'm still in education (at college), and next september i'll be going to uni for 3 years!
    i have a part time job that i do about 16 hours of, a month.

    After today, i would have requested around £1,300 to go into my bank ( bit by bit, not all at once).


    i didn't even think about it until pondering on this forum.... do i need to pay tax ?
    at the moment i don't pay tax for my part time job, as i'm still in education (i think?).

    as you can see i have no idea! please can someone help me out?

    Thanks

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    Default Re: New girl...stressed about tax.:/

    Hi, you dont need to pay tax but you will need to declare your earnings from now on.

    You have plenty of time left though so dont let it stress you.

    Theres a few performers from the UK here that should be able to help with tax, its fairly straight forward after youve done it once.

  3. #3
    Senior Member Rosannaxox's Avatar
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    Default Re: New girl...stressed about tax.:/

    See i don't even know what you mean by declaring my earnings?! :/

    Thanks so much for replying

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    Senior Member Rosannaxox's Avatar
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    Default Re: New girl...stressed about tax.:/

    See i don't even know what you mean by declaring my earnings?! :/

    Thanks so much for replying

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    Featured Member maryjaynexo's Avatar
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    Default Re: New girl...stressed about tax.:/

    She means declaring your earnings on your taxes, keeping records of what you made, and so on. I'm from Canada, so I can't help a whole lot, but I file as self-employed.




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    Senior Member Rosannaxox's Avatar
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    Default Re: New girl...stressed about tax.:/

    So how do i declare my earnings? really sorry about questions, and coming across as VERY dumb. i just don't wanna get into trouble

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    Default Re: New girl...stressed about tax.:/

    Quote Originally Posted by HaydenBlue View Post
    Somebody call the WAHHHHmbulance.

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    Default Re: New girl...stressed about tax.:/

    you will also find that as someone who is "Self employed" you are also required to register as such. failure to do so, can result in fines.

    the best thing to do, is to think of what you do as a business and head on over to the business link website www.businesslink.gov.uk where there is a wealth of relatively easy to understand info on starting a business, especially things such as finances, taxes etc etc.

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    Default Re: New girl...stressed about tax.:/

    In case you think you don't have to pay tax because you are student, that is a misconception. That has come around because the number of hours that a typical student works/the amount of money that a typical student earns, is under the personal allowance threshold for tax. For 2012-13 it's just over £8000 (if I remember right) that you can earn without having to pay tax. But you still need to let HMRC know.

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    Default Re: New girl...stressed about tax.:/

    I use Payoneer for my payments and don't declare any of it as none of it ever touches my account.
    Of course it is up to the model's moral views as to whether they declare or not.

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    Default Re: New girl...stressed about tax.:/

    Double post, please delete

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    Default Re: New girl...stressed about tax.:/

    Quote Originally Posted by DreamBABEX View Post
    I use Payoneer for my payments and don't declare any of it as none of it ever touches my account.
    Of course it is up to the model's moral views as to whether they declare or not.
    I'm in the US so I'm not familiar with tax laws in other countries, but I would think that if you are earning money you still need to report it, whether or not those funds ever reach your primary bank account. If you've ever had to supply a site with you SSN or similar identifiying information all it takes is a little bit of digging during an audit to show how much you're making and yes, an auditor will be able to find out exactly how much you've received via Payoneer. I'd play it safe and declare everything. I don't know that it's really a question of morality, but rather whether you are comfortable with taking a risk of being found out and accused of tax fraud. Evading taxes and getting found out has the potential to be a LOT more expensive that just declaring everything properly in the first place.

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    Default Re: New girl...stressed about tax.:/

    ^^^ UK girls can supply confirmation, but I'm pretty sure that the UK does NOT tax the 'foreign' earnings of UK citizens / businesses in the same way that the US does. Thus if you are earning money from a webcam host that is NOT based in the UK, there's a fair chance that said 'foreign' income won't be subject to UK tax. This is a dicey area though and needs thorough investigation.

    In contrast, the US will attempt to tax the 'foreign' income of US citizens / businesses as soon as said 'foreign' business income is brought back across the US border.

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    Veteran Member housewench's Avatar
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    Default Re: New girl...stressed about tax.:/

    ^Yeah, the US is ridiculous about our tax laws =_=

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    Default Re: New girl...stressed about tax.:/

    There are girls on Adultwork, not based in the UK, paying tax. You also need to register as self-employed within 3 months or face a penalty if they find that you were liable to pay tax.

    Some accountants will have a free chat with you, it's best to get some qualified advice.
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    Default Re: New girl...stressed about tax.:/

    Nowadays the Gov wants to be told about all earnings, when we say declare we mean tell them really.

    As your under the minimum threshold to pay tax you wont need to pay it but you still need to tell them how much you earn.

    This page will also help if your in employment and self employed on the side

    Once youve researched the basics and registered as self employed, it will take about 5 mins to fill the form out. Its really straight forward for normal self employed persons.

    In your case, any money from camming that hits your bank account is your turnover, doesnt matter what country it came from.

    Your profit is the amount of money left after expenses, eg if you use a laptop solely for camming, its an expense, partial bills can be an expense like electrics.

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    Senior Member Rosannaxox's Avatar
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    Default Re: New girl...stressed about tax.:/

    hey guys, thanks so much for the help


    I *think* i'm on the right form. on this question, "
    What sort of self-employed work do you do?
    (eg plumbers, investment business, electrical engineers):".. what should i put
    ?

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    Default Re: New girl...stressed about tax.:/

    Don't forget National Insurance Contributions though...the threshold for that is about half that of tax.
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    Default Re: New girl...stressed about tax.:/

    I am listed as 'entertainment'. It's best to choose something at least close to what you do otherwise you might raise suspicions claiming tax off your dildos
    "If you want to earn more, learn more" ~ Zig Ziglar




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