Tax for under 18 year olds?

Patricklouth

I was wondering, I would often buy clothes etc to resell and I make quite a good bit of money doing this but I'm only 16 and was wondering should tax be paid on this money made?Do people under 18 pay this sort of self employed pay tax?

Wanderer78

Enjoy it while you can, you ll be paying enough when you're older. Best of luck with it

Patricklouth

I'm earning grands though just don't want them to look at my account and say what's up here?

Permabear

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Patricklouth

Permabear wrote: »

This post had been deleted.

I see so basically anything ever sold there should be tax paid.So if I purchase something from a shop for €10 and sell it to someone for €20 cash in hand I'm ment to sort out percentages to be paid as tax

sdanseo

Patricklouth wrote: »

I see so basically anything ever sold there should be tax paid.So if I purchase something from a shop for €10 and sell it to someone for €20 cash in hand I'm ment to sort out percentages to be paid as tax

No, your tax liability is based on the total amount in a year.

Your income would have to be above the €13,000 annually to be liable for anything as a PAYE worker, I'd imagine the lowest thresholds are similar for self-employed. You're hardly making a grand a month at it?

Permabear

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Patricklouth

Ye I wouldn't be earning 13000 a year not even close so I should be ok cheers guys