Will I have to Pay Tax and National Insurance on Earning form Website?

If I start earning money from a website I have setup in my spare time, will I have to pay tax and national insurance on that income? I am also employed full time on a salary of £25,000 a year.

 

You should register your new web business with the tax office as a self-employed business. We can help you do this if you wish. Your self-employment will not affect your employment, and your employer need not know about your website business. However, you will have to complete a tax return each year to declare all of your income; from your business, employment and any investments. By registering as self-employed you will also be automatically registered to pay class 2 national insurance in respect of your self-employed profits. If these profits are expected to be less than £5,075 for the current year, you should complete form CF10 which is a request for exemption from paying class 2 national insurance.

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