declaring affilate income

[mistrymit]

hi

am currently working and have several domains that i want to develope. how do i declare this extra income? self assessemt or shall i register a company and get a vat number?

or is there any other way

 

[ScottJ]

Self assessment, unless it grows to such a level you feel that you should become a Ltd co & pay corporation tax. Depends on your main income at present and the level of your main income.

You don't need to register for VAT until your turnover reaches £64,000 in any 12 month period, although you can register voluntarily if you feel it may be of benefit to you.