I’ll be talking with my accountant about this but wondered how others had approached this.
If you were an employee that ran a money making side project what did you do in terms of tax status.
Did you register with HMRC as a business (sole trader, Partnership or Company) or just declare extra personal income on your self assessment (you did declare that extra income, right! LOL).
just curious and have a feeling the right way would be to register as a sole trader and possibly even register for VAT right from the start offsetting SaaS subs, equipment upgrades, VAT paid etc…
anyway the background to this is that I have a couple of personal projects underway that may make a bit of cash via affiliate links rather product or service than sales so i’m thinking ‘additional personal income’ may just be easier to start with.
thanks in advance