My friend has been running an online business for 2 years which was not legally registered as a business anywhere.
The first year was actually nothing income-wise, however this year in the last couple of months he has made just over $120K in sales,
He has been always using EMI's + PayPal's and Stripe under his name. Was taxpayer(employee) in UK but he did leave UK in 2016 and haven't been there since, however, he always used his UK address to open all those payment processors to receive money.
EMI's are opened in Eastern EU as he resides there
He is not citizen of UK and neither a resident
Currently, he is planning to go fully legal, just wondering what can happen and what should he expect as he hasn't paid a single $ in taxes for the amounts he has made online?
Last edited: Nov 22, 2019
The first year was actually nothing income-wise, however this year in the last couple of months he has made just over $120K in sales,
He has been always using EMI's + PayPal's and Stripe under his name. Was taxpayer(employee) in UK but he did leave UK in 2016 and haven't been there since, however, he always used his UK address to open all those payment processors to receive money.
EMI's are opened in Eastern EU as he resides there
He is not citizen of UK and neither a resident
Currently, he is planning to go fully legal, just wondering what can happen and what should he expect as he hasn't paid a single $ in taxes for the amounts he has made online?
Last edited: Nov 22, 2019
