I need your take on my income from my internet based share revenue.
Here are my details;
I am from British national but was born in Pakistan, So i am dual national. i am married and my wife is on dependent visa and not British national.She is Pakistani national.
I am here in this country from last 10 years.I am working for a multinational company and on the Salary of 38K.
I am doing this internet based business as part time because i have to just watch 10ads in 24 hours and the company share the revenue with the members.I have invested $10,000 to buy the ad packs and now after 6 months i have started to withdraw from my revenue share money from the Trafficexchnage account into my Paypal account.
So it will be like $6000/month.I have personal Paypal account and i have verified it with Barclay bank.So i have withdraw some money into my bank from Paypal already.
Should I pay income tax on that earning which i am getting into Paypal ?
if yes then what would you advise me because i am also doing full time job too and it will be higher rate tax .
Please advise me the options for structuring the business in a tax efficient manner.
Should i register a Ltd company in UK or offshore company in 0% tax jurisdiction.
Thanks in advance