If I own a website, am I self-employed?
Hi,
I own a website which has a few ads on it, but breaks even with my expenses. So am I considered to be self-employed? The reason I ask is that if I am to apply for a student visa overseas, one of the requirements is that I must not be self-employed. Does that mean Id need to give up my website?
ThanksSince my blog only breaks even, am I "working for income"?
Asked by MC - 1 year ago
Answer:
The definition of Self-employed does vary but as a general guide it is defined as someone who has control over the business they run in terms of the decisions made, money put at risk. It is possible to be employed and self-employed so even if you run the website at night and work during the day you could be deemed to be self-employed. In the instance you should contact the inland revenue and declare your business as failure to do so could result in a penalty fine.
Disclaimer:
The answers above are for guidance only and should not be acted upon without you receiving independent financial advice relevant to your circumstances. To find an IFA please go to http://www.unbiased.co.uk
Sources:
Adrian Lowcock, Senior Investment Adviser, Bestinvest Brokers (Ltd)
Adrian joined Bestinvest in 2003 as a Senior Investment Adviser and has previously headed up a team of Investment Advisers. He is currently Editor of our client magazine, The Bestinvestor and is our key media spokesperson. Adrian has 12 years experience advising clients and is a member of the Securities and Investment Institute. Bestinvest provides independent investment advice, investment management and financial planning services to individuals. With in-depth analysis, precise tracking and experienced advisers, we work to help you create, protect and enhance your wealth.