How do i make money under 18 online? (UK)

[hybobu]

U cant get a job until you leave school at 18, or 16 but ur slaving away at mcdonalds, and i ideally want to make money online anyways but the main thing here is that its practically impossible to do that to as u have to be 18 for most things anyways like shopify, tiktok shop affiliate, paypal etc. I feel like the only path i can go down rn is social media, getting ad revenue and then promoting my own products or some shit like that, but i cant use my personal bank account for payments or anything as they will eventually lock it or when they realise its being used for business and as said earlier or the fact that u cant send more than £200 at once; paypal and most shit is 18+ anyway, but in the uk u can be a sole trader with i believe no age restrictions, which is great for the government because u can make money and they can tax u for half of it every year but u still cant get paypal etc, so the only thing left is bank + crypto, now cryptos fine for accepting, which is all i care about atm, and for the bank i found a sole trader account from starling here: https://www.starlingbank.com/sole-trader-bank-account , now it doesnt say it has any age restrictions anywhere and nothing that would make it 18+, and to apply for it u just need a passport + sole trader name and maybe some other document if asked, so my question is can i just register as a sole trader on the uk gov website and apply under 18 or not?

 

[aids]

I'm not familiar with UK laws, but generally, a sole trader is not a separate legal entity from the owner, meaning that you're taxed as per your income tax. If the tax system is progressive in the UK (meaning higher salary people are taxed relatively more), then you'd only be taxed 50% at a very high income from money earnt above that income, if that makes sense.
If you're looking to generate money from ads, I'd look into Admaven, I believe the minimum withdrawal for cryptocurrency is 50 USD.
As aforementioned, a sole trader and the individual are the same entity legally, therefore I don't think that you can be under 18 and operate as one, since you must be 18 to enter into a contract like in operating a business. This means that assuming you must be 18 to open a bank account on the website you've linked, and you're trying to operate as a sole trader to bypass that restriction, it might not make a difference.
If you can comfortably generate traffic into ad links, look into Admaven and cryptocurrency withdrawals, so long as you have the means to convert that cryptocurrency into cash for yourself.

 

[pslgodchd]

U cant get a job until you leave school at 18, or 16 but ur slaving away at mcdonalds, and i ideally want to make money online anyways but the main thing here is that its practically impossible to do that to as u have to be 18 for most things anyways like shopify, tiktok shop affiliate, paypal etc. I feel like the only path i can go down rn is social media, getting ad revenue and then promoting my own products or some shit like that, but i cant use my personal bank account for payments or anything as they will eventually lock it or when they realise its being used for business and as said earlier or the fact that u cant send more than £200 at once; paypal and most shit is 18+ anyway, but in the uk u can be a sole trader with i believe no age restrictions, which is great for the government because u can make money and they can tax u for half of it every year but u still cant get paypal etc, so the only thing left is bank + crypto, now cryptos fine for accepting, which is all i care about atm, and for the bank i found a sole trader account from starling here: https://www.starlingbank.com/sole-trader-bank-account , now it doesnt say it has any age restrictions anywhere and nothing that would make it 18+, and to apply for it u just need a passport + sole trader name and maybe some other document if asked, so my question is can i just register as a sole trader on the uk gov website and apply under 18 or not?

just send fake products löl

 

[hybobu]

just send fake products löl

but i cant sign up to shopify etc in the first place and if i do it locks until kyc when u get like $200 revenue

 

[pslgodchd]

but i cant sign up to shopify etc in the first place and if i do it locks until kyc when u get like $200 revenue

just create fake accs

 

[hybobu]

I'm not familiar with UK laws, but generally, a sole trader is not a separate legal entity from the owner, meaning that you're taxed as per your income tax. If the tax system is progressive in the UK (meaning higher salary people are taxed relatively more), then you'd only be taxed 50% at a very high income from money earnt above that income, if that makes sense.
If you're looking to generate money from ads, I'd look into Admaven, I believe the minimum withdrawal for cryptocurrency is 50 USD.
As aforementioned, a sole trader and the individual are the same entity legally, therefore I don't think that you can be under 18 and operate as one, since you must be 18 to enter into a contract like in operating a business. This means that assuming you must be 18 to open a bank account on the website you've linked, and you're trying to operate as a sole trader to bypass that restriction, it might not make a difference.
If you can comfortably generate traffic into ad links, look into Admaven and cryptocurrency withdrawals, so long as you have the means to convert that cryptocurrency into cash for yourself.

u definetly can be self employed under 18 as a sole trader in the uk, i already do have a bank account and business bank accounts are only 18+ because of contracts and like loans etc, so im pretty sure i should be able to sign up for the sole trader if i provide documents like i did with my personal one, even though u arent a seperate entity, it doesnt mean u cant make money through that way, i mean im not making some crazy brand with 15 full time employees why would i need a seperate legal entity rn in the first place

 

[hybobu]

just create fake accs

and hows u reporting tax when it comes into ur bank account linked to ur name

 

[aids]

u definetly can be self employed under 18 as a sole trader in the uk, i already do have a bank account and business bank accounts are only 18+ because of contracts and like loans etc, so im pretty sure i should be able to sign up for the sole trader if i provide documents like i did with my personal one, even though u arent a seperate entity, it doesnt mean u cant make money through that way, i mean im not making some crazy brand with 15 full time employees why would i need a seperate legal entity rn in the first place

I never said you do need a separate legal entity, main difference is your liability/ability to sell shares of the business, which isn't really relevant unless your business is in debt/trying to raise capital. My point is, since as a sole trader, you are the owner of the business, you are entering into contracts with businesses even if it's as simple as agreeing to their terms and conditions. This means that if there is a requirement to be 18+ to use them, but you register as a business, they may not necessarily need to honour their end of a contract because you have not actually entered into one, since it isn't legal to do so at your age.
Maybe I was unclear, but my point is, as you are not a separate legal entity, you are paying income tax on your profits, there is no 'company tax' that you must pay. Comparably, if you owned a company, then you would need to pay company tax on company profits, and then pay income tax on the profits you pay out to yourself.
Again, not familiar with UK laws, but company tax is proportional, not progressive, meaning you pay it regardless of how significant your profits are, e.g., if you earn $10 profit, you might need to pay 25-30% on it, even though you might not be taxed on only earning $10 in profit as a sole trader.

 

[azuzu]

I would tell you to buy a slew of random shitcoins and btc but you missed that wave. Thank god I’m 23. Either way couldn’t hurt to buy some btc, eth, chainlink maybe a few others. Also buy some novo-nordisk, Eli lily, androgen stock. You’ll thank me biotech/pharma = mogger

 

[pslgodchd]

and hows u reporting tax when it comes into ur bank account linked to ur name

reporting tax doesnt exist

 

[incliner]

U cant get a job until you leave school at 18, or 16 but ur slaving away at mcdonalds, and i ideally want to make money online anyways but the main thing here is that its practically impossible to do that to as u have to be 18 for most things anyways like shopify, tiktok shop affiliate, paypal etc. I feel like the only path i can go down rn is social media, getting ad revenue and then promoting my own products or some shit like that, but i cant use my personal bank account for payments or anything as they will eventually lock it or when they realise its being used for business and as said earlier or the fact that u cant send more than £200 at once; paypal and most shit is 18+ anyway, but in the uk u can be a sole trader with i believe no age restrictions, which is great for the government because u can make money and they can tax u for half of it every year but u still cant get paypal etc, so the only thing left is bank + crypto, now cryptos fine for accepting, which is all i care about atm, and for the bank i found a sole trader account from starling here: https://www.starlingbank.com/sole-trader-bank-account , now it doesnt say it has any age restrictions anywhere and nothing that would make it 18+, and to apply for it u just need a passport + sole trader name and maybe some other document if asked, so my question is can i just register as a sole trader on the uk gov website and apply under 18 or

mate just make the account w your parents name and ignore all the sole trader bs shit , all of that shit don’t matter