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lethalboom
Forums Member
Joined: 7 Jun 2008
Posts: 50
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#1 · Posted: 7 Jun 2008 11:23
Hi
Me and a friend are thinking of setting up an e-commerce site, subject not known yet.
Basically we are both from England, and are asking, if we make an e-commerce site, will we haev to pay tax on the profits?
Thanks in advance
Simon
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happywife
Joined: 14 Aug 2007
Posts: 1565
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#2 · Posted: 8 Jun 2008 03:34
I don't know the tax laws in England, but I can't imagine that they'd let you get away with non-payment. 
In the US and Australia, e-commerce is taxed like offline commerce. You can claim business deductions, etc., but you still pay on the profits.
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lethalboom
Forums Member
Joined: 7 Jun 2008
Posts: 50
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#3 · Posted: 8 Jun 2008 04:27
im guessing it is teh same for normal offline businesses, too, but, better to be safe than sorry, and all that 
thanks for the advice
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getagrip
Joined: 20 Feb 2006
Posts: 2086
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#4 · Posted: 8 Jun 2008 05:40
Go to Google and type "uk tax law forum" or something similar and you will find some legal forums to help you answer that question.
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lethalboom
Forums Member
Joined: 7 Jun 2008
Posts: 50
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#5 · Posted: 8 Jun 2008 05:43
I will do that, thank you for the information
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