I finished college a few weeks ago and instead of going to university, I plan on earning money and saving up. I’m currently 18 and have been looking at templates on themeforest for the last 2 years. I recently joined the website and was looking forward to selling some templates to start saving up some money, however I stumbled upon a thread about paying tax and now I’m starting to get confused about what I need to pay and where.
Some people are saying that you need to pay tax and others are saying you don’t. I haven’t registered for a business (because I don’t consider this to be a business but rather a hobby and hopefully something that earns me some money). Do I have to register somewhere to pay tax? Do I have to pay tax at all? Can anyone put me in the right direction?
I get the feeling someone is going to tell me to speak to an accountant, however I’m 18, unemployed and have only just left college so I haven’t got the money to pay for there advice (I’ve heard they can charge you a fortune for just sending you a letter).
Look forward to a good discussion