Do I need a business account

9bred4

So I'm after setting up both a YouTube and website. I'm wondering do I need to set up a business account with a bank as I intend to use adsense and if I start making a few euro's off it I don't want to get stung for tax avoidance or something silly like that. Anybody have any advice?
I hope to maybe become a personal trainer in time too so I assume I will need some form of account for that anyway.
All advice is appreciated

Edit: Things like twitter ads and google adwords required a Vat/Tax Id and I am not sure what that is

Mrs OBumble

No. Just make sure that you keep good records. This is very easy to do with AdSense because you only get one payment per month.

Then declare the income to Revenue.

By the time you get large enough to need to register for VAT, you will be affording an accountant to help with stuff like that. In the meantime, just leave the registration number blank.

9bred4

Okay, and again, silly question. How do I declare to revenue and is it only if I earn over a certian amount?

Mrs OBumble

9bred4 wrote: »

Okay, and again, silly question. How do I declare to revenue and is it only if I earn over a certian amount?

Not silly questions.

http://www.revenue.ie/en/business/running/registering-tax.html#section2

And no, it's all profit = income minus allowable expenses.

9bred4

I also work a full time job so does that affect it? Just before I click the link and read it all

Mrs OBumble

No, your full time job has no effect.