Who files taxes for a UK minor earning from a parent's account?

Aayan105
Tourist
5 0 0

if i’m 16, and my parents are the account holders but i get the payouts, do i file the taxes myself or do they? as in the UK, once you’re 16 you pay tax if you earn more than £190 a week.

Replies 3 (3)

Don
Shopify Staff
2767 199 388

Hi there @Aayan105!

 

Thanks for sharing your query with us here in the Shopify Community and congratulations also on getting started with your Shopify store already!

 

I will have to clarify for you here, however, that we are not able to answer queries about taxation or your liabilities where you are ourselves here in Shopify.

 

As such, we would always have to advise you to consult a qualified tax expert in your jurisdiction.

 

Once you know what you need to be charging where you are, you can consult our guide to setting up UK taxes here.

 

If you're selling or thinking of selling to customers in the EU moving forward, I'd also recommend you check out our guide on UK taxes and Brexit here.

 

Could you tell me a bit more about what you've been selling, how long you've been operating, and anything else you're working on for your business currently?

Don | Social Care @ Shopify 
 - Was my reply helpful? Click Like to let me know! 
 - Was your question answered? Mark it as an Accepted Solution
 - To learn more visit the Shopify Help Center or the Shopify Blog

Aayan105
Tourist
5 0 0

i am planning on launching a store with shoes, i haven’t yet began operating , just worried about the legal aspects 

Don
Shopify Staff
2767 199 388

Hi again, @Aayan105!

 

Thanks for getting back to me here and for sharing that info.

 

While we can answer questions on tax or legal liability here, I would like to share some resources I think will be useful to you in setting up a business.

 

As you mentioned you're based in the UK, check out our UK Regional Support hub here in the Community.

 

There's a bunch of info specifically relevant to UK-based merchants so there should be something useful for you there!

 

Next, you can check out some examples of the website theme templates used by some shoe stores here in our theme store.

 

It's also a good idea for new merchants to write up a business plan as well as think about a marketing plan.

 

Best of luck in business and let us know if we can help out at any stage of your journey!

Don | Social Care @ Shopify 
 - Was my reply helpful? Click Like to let me know! 
 - Was your question answered? Mark it as an Accepted Solution
 - To learn more visit the Shopify Help Center or the Shopify Blog