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Advice on DS making money on tiktok

54 replies

tiktokmoney · 07/01/2025 14:28

DS is making lots of money on tiktok. He is still doing A levels. It is not something I am familiar with at all. I have obviously given the warning about his posts being online forever. Looking for advice/experience on this situation. Also advice for having a teenager earning so much money. He is not spending it but plans to invest/trade so could lose it. Thank you

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LittleRedRidingHoody · 07/01/2025 14:31

Sounds like he's being fairly sensible. Id recommend to him going and seeing an accountant to make sure everything is being taxed correctly as that can be a minefield.

Make sure you congratulate him too, everyone thinks it's easy/purely based on luck but it does take quite a strong entrepreneurial spirit to keep it going. Maybe follow his account to keep an eye on content/know what he's talking about.

thesaskedminger · 07/01/2025 14:38

Is he aware of the legal implications of earning money, what he needs to do re tax etc?

tiktokmoney · 07/01/2025 14:47

No not aware about tax! Well I wasnt. Is everything taxable or can you make a certain amount without or just your usual tax allowance?

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CoastalCalm · 07/01/2025 14:49

TikTok will inform HMRC of earnings so your son will need to register as self employed with them and produce tax returns

LittleRedRidingHoody · 07/01/2025 14:50

tiktokmoney · 07/01/2025 14:47

No not aware about tax! Well I wasnt. Is everything taxable or can you make a certain amount without or just your usual tax allowance?

Your usual tax allowance - however it's a minefield as an influencer because he'll be able to write stuff off, but will also need to pay tax on some 'gifts' (if he's gifted anything, and there's also strict criteria on which gifts need to be taxed) - definitely one for an accountant if he's earning thousands.

tiktokmoney · 07/01/2025 14:53

Anything else we should consider. What about the content being visible for ever or being approached by scammers if you have a lot of views. It is all totally new to me. I only do MN!

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thesaskedminger · 07/01/2025 14:55

tiktokmoney · 07/01/2025 14:53

Anything else we should consider. What about the content being visible for ever or being approached by scammers if you have a lot of views. It is all totally new to me. I only do MN!

Yes the content will always be out there. What is he doing?

I see several 'influencers' who are absolutely unemployable, the digital footprint they are creating will never leave them. The money from social media however will.

Kibble29 · 07/01/2025 14:59

How much is he making?

jay55 · 07/01/2025 14:59

Get him some financial advice on balanced investing but also how much to put aside for taxes etc. also on the most tax efficient way for him to be earning, whether he should just be self employed as a sole trader or create a company etc.

Be wary of agents, they will be circling if he's doing well and some will be great some not etc.

tiktokmoney · 07/01/2025 15:38

I am not really sure how you describe it but doesnt seem that exciting to me tho youngsters I know seem to find it interesting and think he is amusing and obviously lots are watching. I cant see that it would prevent him getting a job. What are these people doing that can never be employed?

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thesaskedminger · 07/01/2025 15:40

tiktokmoney · 07/01/2025 15:38

I am not really sure how you describe it but doesnt seem that exciting to me tho youngsters I know seem to find it interesting and think he is amusing and obviously lots are watching. I cant see that it would prevent him getting a job. What are these people doing that can never be employed?

You don't know how to describe what the is doing? That's concerning.

gwenneh · 07/01/2025 15:48

What are these people doing that can never be employed?

Anything a company doesn't like. It doesn't have to be broadly objectionable. No company will hire someone whose social media presence represents them in a way that would reflect badly on the company.

jijj · 07/01/2025 15:49

If he's earning "a lot" he's going to be over the personal allowance, best bet is to go to an accountant and work out the best way of dealing with it in terms of self employed or ltd company.

In terms of future earnings, it's hard to say without knowing the type of content he does, is he diversifying onto other platforms not just tiktok?

Putting it all into trading would be madness, his earnings could end tomorrow and he doesn't want to throw it all on trading when he has no experience, tiktok will be partly to influence I suspect from all the day trader types. He's going to want to save some for tax, then he should do long term investment/saving type thing.

What is his post A-Levels plan, I would recommend still continuing with college or uni or a proper job, to get some kind of skills and work experience behind him for if the tiktok earnings could stopped tomorrow, he could do a video editing course.

You say you can't describe it, but like what is he actually doing? is he filming his daily life, is he filming drama videos, is it a faceless account etc? He should be aware of does he want this attached to his name in X number of years, does he want this showing up everytime someone searches him after a job interview type thing.
is the account in his actual name as a username, privacy concerns if he's showing where he lives or the area etc

tiktokmoney · 07/01/2025 15:50

really not concerning! it is commenting on what is going on in the world, finance, other peoples posts. Nothing that anyone else couldnt say. not promoting any shopping, nothing even slightly offensive. friends tell me their kids find it funny and are impressed.

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JimHalpertsWife · 07/01/2025 15:50

There are such jobs now called Influencer Agents and the type. It is probably worth him looking into anyone who can guide him through the business aspects (Inc tax etc) for a fee.

LadySnoresMuchly · 07/01/2025 15:55

I can't understand why you can't see that commenting on current affairs on social media isn't something that could affect his employment in the future. Of course it is!

Nobody can comment any news story without somebody else's nose being put out of joint.
That's the very nature of current affairs.

I'm not saying he shouldn't be doing it though.

tiktokmoney · 07/01/2025 15:56

he shows his face but doesnt really make films he is just talking about other clips in everything i have seen. no idea why there are so many watching it

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rainzen · 07/01/2025 16:02

That's cool! How many likes does he get on a post!?

tiktokmoney · 07/01/2025 16:04

Everything I have seen would show great morals and would not concern me. I can see if you were posting political affiliations or racist or sexist things or even unbalanced views it would be a huge issue. Obviously I wouldnt choose for him to be doing this but I am aware I am very old fashioned and dont use any social media and only do MN as unidentifiable hence asking other people here about it.

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Nn9011 · 07/01/2025 16:04

tiktokmoney · 07/01/2025 14:47

No not aware about tax! Well I wasnt. Is everything taxable or can you make a certain amount without or just your usual tax allowance?

It is treated as salary so he's probably ok up to £1000 per tax year, anything over that is an issue.
I'd recommend getting some advice from tax specialist or accountant. Perhaps even citizens advice might be able to help.

Frenzi · 07/01/2025 16:10

I am home ill and have been lying in bed watching tiktoks. I really dont understand it - although it entertains me!

There is a woman on there with very big boobs. She seems to spend her days on tiktok live, sat in her car with her seatbelt on so it goes inbetween her boobs but she has one boob hanging over the top of the seatbelt. She wear just a t-shirt. She has about 250 watching her on her live (mainly men). I assume she is somehow getting money for it but no idea how that works. (Yesterday she wasnt in her car but instead had what I think was a bag strap between her boobs with one of her big boobs hanging over the top of the strap.

I want to know how it works. How much does she earn? I have big boobs (not as enormous as hers but big enough), a car and a seat belt.....................

tiktokmoney · 07/01/2025 16:10

Personally I am happy if he loses all the money trading as it would be a good lesson in the risks and wont then stop him getting a real job! However I will make sure he keeps enough for tax - will suggest we look after that for him.

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JimHalpertsWife · 07/01/2025 16:30

Frenzi · 07/01/2025 16:10

I am home ill and have been lying in bed watching tiktoks. I really dont understand it - although it entertains me!

There is a woman on there with very big boobs. She seems to spend her days on tiktok live, sat in her car with her seatbelt on so it goes inbetween her boobs but she has one boob hanging over the top of the seatbelt. She wear just a t-shirt. She has about 250 watching her on her live (mainly men). I assume she is somehow getting money for it but no idea how that works. (Yesterday she wasnt in her car but instead had what I think was a bag strap between her boobs with one of her big boobs hanging over the top of the strap.

I want to know how it works. How much does she earn? I have big boobs (not as enormous as hers but big enough), a car and a seat belt.....................

Given that TIKTOK works on algorithms based on what you view / like, this poet says more about your preferred type of TT than it does about her Wink

tiktokmoney · 07/01/2025 16:39

does anyone elses child make money like this?

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MadameWombat · 07/01/2025 16:46

I would advise him to look at the UK Personal Finance flowchart on reddit, and put some money long term into a pension, and a help to buy ISA when he's 18, as well as putting aside savings for his university years assuming he goes. (He could probably start a second tiktok channel about his finance journey)

The meaningful money podcast/book/facebook group is also a good idea as it's by an accountant, and would help with tax stuff.

Also day trading is probably not a good idea, but putting money for the long term (more than 5 years) such as his pension and LISA into a multi-asset fund would be a smart idea. (I do Vanguard Global All Caps but others are available) He will find good advice on that in the Meaningful Money group and UK Personal Finance reddit.

Good luck!