New UK Couple on Chaturbate with a TAX question

[2wooyoo]

Hello people!

We are very new to camming, we have just signed up on Chaturbate and now been verified so we can receive tokens.
(As we are only on Chaturbate we can't become verified members on this forum so I would greatly appreciate it if somebody could answer our question in this thread and not suggest we become verified on the forum as we can't!)

We are worried about how to pay our tax or even if we have to?
As the heading says, we are in the UK, Chaturbate is an american company so the cheques will arrive in USD, will I be able to deposit them into my English bank?

I have asked the support about this and they just advised me to contact an accountant regarding tax but wanted to know if anybody out there had any advice/experience in paying tax in the uk for camming.

Help!!!

Thank you for reading this.
X

 

[LailaBaise]

It is important that you get in touch with the Inland Revenue and go from there. :thumbleft:

This link should get you started. http://www.hmrc.gov.uk/working/intro/selfemployed.htm

 

[LolasLiger]

As a UK resident you are liable for all income, including all foreign income:

http://www.direct.gov.uk/en/MoneyTaxAnd ... G_10027480

You will need to fill out a self-assessment tax formm. Whether you actually decide to declare this as income to the authorities is completely up to you. I am just pointing out the legal position.

If you are being paid by cheque in dollars, then you will be able to deposit them but will also be liable for bank charges for foreign currancies. My bank charges £10-£15 per cheque, regardless of how much it is for. You may want to consider an alternative form of payment, preferably a direct electronic one.

 

[Tilly]

Yes, you do have to pay taxes on your income through Chaturbate.
Refer to this link from Chaturbate for a little insight to get you started.

 

[2wooyoo]

Okay thanks for all your help!
We will start looking into it, it now doesn't sound as scary as before.

 

[Tilly]

Okay thanks for all your help!
We will start looking into it, it now doesn't sound as scary as before.

Nope, it won't be very scary at all. Chaturbate will send you two the forms you need to do your taxes. You will have to pay in since taxes aren't already taken out of your income like a normal job, but if you invest in getting an accountant, things can be even easier.