Tax

[EmmaY1]

Started a business in Nov 2010, ran it until July 2011, during which time i turned over about £4000 and made a profit of less then £500, do I need to declare this for tax.

I am thinking of starting a photographic website, it is a hobby but want to cover my costs by advertising, again will I need to return tax returns?

Help would be appreciated.

I would have declared the business even though the earnings weren't high enough to be taxable. For the hobby it rather depends on how much income and expenditure is involved and whether it's a regular thing or very ad hoc. Presumably you live on something else than your earnings from these ventures?

If you have a self-employed business you need to register as self employed no matter how small it is, see Business Link.

A hobby is not necessarily a business, but you do need to tell HMRC about the income either on your tax return or if you do not fill in a tax return, call them at the end of the year and follow up in writing.