paying tax

[rabs_toy_shack]

i have a shop i now have to pay tax how do i do this does ebay take it every month do i pay the tax man at the end of this year or am i going to pay for the year past 2024 does any know how to find this out

thank you

[gjalp]

You need to register with HMRC (go to their website) and look for self assessment, assuming you are a sole trader.

[sml192]

You will need to first check whether you need to register for Self Assessment and pay tax.  If you do need to register then that will need to be done by 5th October.   The tax year runs from 6th April to 5th April the following year and the return for each year needs to be submitted by 31st January of the following year. 

https://www.gov.uk/check-if-you-need-tax-return

https://www.gov.uk/register-for-self-assessment

[cobwebcottage]

Find a local Accountant to do your books and just concentrate on buying and selling. You will need to keep records of your income and expenditure and they will do the rest for you. Money well spent for peace of mind to complete your returns correctly and on time.