Tax on my app???? (UK)

JagonAppsJagonApps Member Posts: 241
in Business and Marketing Theory
Ok, so i was thinking about this recently, if I make an app and perhaps if it makes a lot of money (I wish) will I ever have to pay tax for it? Does it make any difference if you call yourself a company name or your personal or iTunes for eg? (im in the uk)

Cheers

Best Answers

  • LumpAppsLumpApps Posts: 2,881
    Accepted Answer
    I wonder if a person named Socks pays tax. Funny that you are giving tax advice :))

    Lump Apps and My Assets

  • capitalcarnagecapitalcarnage Posts: 371
    edited January 2013 Accepted Answer
    If you in the UK you can guarantee the taxman wants his share no two ways about it.
    Tax Evasion is Illegal
    Tax Avoidance is Commendable

Answers

  • SocksSocks London, UK.Member Posts: 12,822
    edited January 2013
    //
  • SocksSocks London, UK.Member Posts: 12,822
    Funny that you are giving tax advice :))
    Good point, comment removed.


  • LumpAppsLumpApps Member Posts: 2,881
    Funny that you are giving tax advice :))
    Good point, comment removed.


    I was just kidding?!

    Lump Apps and My Assets

  • JagonAppsJagonApps Member Posts: 241
    edited January 2013
    So..does anyone here pay tax? And how do you represent yourself on iTunes?
  • capitalcarnagecapitalcarnage Member Posts: 371
    I do, it currently goes through my existing business as income and I pay corporation tax(amongst others), in iTunes however I am listed as my name not my company name
  • JagonAppsJagonApps Member Posts: 241
    Out of interest, why as your name? Surely it would make it a lot harder for people to find your apps and would just confuse people you having two identities????
  • capitalcarnagecapitalcarnage Member Posts: 371
    Two different industries not connected to each other is the reason for the separation, the infrastructure was in place for the existing business so I have just pushed it into the accounting.
  • IcedBIcedB Member, PRO Posts: 384
    If you set up a business and register as self-employed then you won't have to pay any tax until after your first year in business. The average app makes a loss, so this gives you a 50% chance of having to do jack !@#$% and a 50% chance of being lazy for at least another year.
    Warning There was an error rendering this rich post.
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