Home Business Tax

smileawhile55 · 2015-11-26 12:12:20

Hi, I was wondering how much can a person earn from running a business out of their home (e.g. making/selling cakes, makeup services etc..) before being required to pay tax? Thanks, smileawhile55

26-11-2015 01:12PM

#1
smileawhile55

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Hi,

I was wondering how much can a person earn from running a business out of their home (e.g. making/selling cakes, makeup services etc..) before being required to pay tax?

Thanks,
smileawhile55

Tagged:

tax

home business

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Comments

#2 26-11-2015 02:07PM

relax carry on

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smileawhile55 wrote: »

Hi,

I was wondering how much can a person earn from running a business out of their home (e.g. making/selling cakes, makeup services etc..) before being required to pay tax?

Thanks,
smileawhile55

It depends completely on the individual and their circumstances. Is there another source of taxable income to consider from a job or DSP payments? Is the person jointly assessed for tax purposes with another? Is the person claiming additional tax reliefs or credits?

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#3 26-11-2015 02:20PM

Peregrinus

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There are no special rules for income generated from a home business. You just add your profits from the business to your other income, and it gets taxed at your marginal rate.

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