Affiliate On Facebook
If i make money from my Facebook App, do i need to register it as a business?
Hi all,
I am in the UK, running an application on Facebook (US-based). There are in total 6 of us from all around the country helping to bring it all together, and we split all profits six-ways.
We are trying to get advertising affiliates to make more money, and are also getting money via Spare Change on Facebook.
I have a series of Questions relating to the finance:
*Do we need to register it as a UK business?
*Do we need to apply for VAT?
*Do we need to register a business name?
Any and all responses are welcome, but please remember that this applies to UK citizens on FB’s US server,
Thank you,
Andrew
Additional:
*Does income and tax forms etc. from this affect Child and Family tax credits?
No, you do not need to register it as a business. If you make more than $599 from it, though, you’ll have to pay taxes on that income as it will become taxable.
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