Income Tax for overseas online business??!!

[ebay168]

Hi All,

I am an part time ebay seller. My main ebay market is UK because I am living/working in UK under work permit. The turnover of my ebay sales recently grow to £15k/mth (profit-£3k) so I want to find out more about my tax status.

My ebay seller is registered in HK but I post goods from UK. Most of payments will generally go thro' my UK bank account (for the time being). Am I eligiable to pay income tax for this ebay "business"? Can I agrue that my business is based in overseas to avoid this tax?

In the near future, I will withdraw all payments directly to my overseas account and no money will go thro' my UK account. Will that make a difference in terms of UK income tax?

Thanks in advance.
Hong

[peterjhale]

Hi Ebay and welcome

There's an easy answer for you - well, er, yes - you should declare it, seeing as you are resident over here. Bank accounts can be checked and in the UK we tax you on your worldwide income where-ever you earn it from. Of course you can try and not declare it and see what happens, but if you get caught there are heavy fines