Domain Manage

Quick question about legal side

Discussion in 'New Domainers' started by u1bd2005, Mar 5, 2013.

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  1. u1bd2005

    u1bd2005 Member

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    Do I need to register or declare to anyone if I'm buying and selling domains?

    e.g. VAT, companies house etc....
     
  2. Domain Forum

    Acorn Domains Elite Member

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  3. namealot United Kingdom

    namealot Well-Known Member

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    Depends what your tax status is? what you make, were you are, what your investment plan is etc VAT registration has it up and downs ask an accountant some offer free initial consultations get them from a few and set out from there,
     
  4. monaghan United Kingdom

    monaghan Moderator Staff Member

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    If you are trading, then technically the HMRC should be informed, whether this is via a company, personal tax return or other vehicle depends on circumstances.

    If it is more than the occasional domain, then as suggested, seek proper financial guidance, not public forum answers.
     
  5. u1bd2005

    u1bd2005 Member

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    well, cant see it being more than the ocasional domain or two for a while at least, so should be ok for now, will declare it still though just to be on the safe side as technically it's still buying with view to resell, and if I start trading fully or more often will look into propper advice, ty guys :)
     
  6. crabfoot United Kingdom

    crabfoot Active Member

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    Easiest way is to treat it as a separate biz, keep separate accounts, and file them on one of those extra pages when you submit your tax return.
     
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