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VAT Help - Very Scared and Worried

[ Edited ]
Visitor ✭ ✭ ✭
# 1
Visitor ✭ ✭ ✭

Hello,

 

I am a student and I run a very small Youtube channel that makes less than £1 a year with monetisation. I signed up to Adwords years ago to draw traffic to a website I used to own. That was years ago and it has since closed down. I then thought that I would use Adwords to draw traffic to a video, as someone had suggested on a Reddit post. I was just running a £10 advertisement which got me 100 ish views. 

 

Now, it just so happened that I was looking at my account settings and it says I am a business, at first I didn't think too much about it, but then I heard about VAT. Now I thought, with everything else, it would get added to my normal charges, but apparently I need to do a self assessment thing. Now, I am young, far too young to know anything about self assessment forms. I am not a registered business, nothing like that, I am merely a student and I have no idea how to self assessment or what VAT even is. I am not sure that I should be paying this, I don't know how, I don't know what it is, I am far too young to be dealing with things like this. I do not use adwords for monetary gain, just for a personal youtube channel. I have only spent £10. I assume I do not need to even think about VAT in this case and can just forget about it? I am very confused and worried. I live in the UK if that helps? I did get told on the phone by an advisor that I can us eit for personal youtube channel without worryign about VAT, btu then I got told that I need to do self assessment by someone else, so I am confused.

1 Expert replyverified_user

VAT Help - Very Scared and Worried

[ Edited ]
Top Contributor
# 2
Top Contributor

Hi Peter,

 

VAT stands for value added tax and aligns with a business operating AdWords for the purpose of gaining more business. Google has to comply with tax rules for countries that they operate AdWords in, and so they are complying with VAT requirements. Self Assessment means it is on you to register with your local tax office and deal with any requirements, and not Google (hence the term self).

 

While myself or anyone else here is not allowed to give out tax advice, you have to determine what your best course of action is. I would add that tax on the amount you spent with AdWords would be very nominal, if it even applied in your situation, which I do not think it does (but again I cannot provide tax advice).

 

If you wanted to be absolutely certain, you would need to call your local tax office and ask them about VAT, using AdWords for the amount you did as a minor... and if there is anything you need to do or be concerned with.   

 

You can use this interactive help file to read more about this. Use the drop down menu at the top to pick your country. This will help you gain some understanding that you will need to know at some point in life.

 

No matter what, don't worry over this... but think it through and act accordingly. 

 

All the Best,

 

James

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