Advertising company

[bobby2000]

I am planning apon setting up an advertising company similiar to that of googleads and yahooads.

Are we required to keep records, pay tax on the money, etc for this or can the money just go in and out of a bank account?

thanks

[peterjhale]

No, not at all. Simply keep and spend all the money you earn - you never have to pay tax on anything........

[Above is wrong - of course you need to declare and pay tax on what you earn at the appropriate rates]