TWITCH STREAMING UK TAX INFOMATION!!!!!

[@Dstar_94]

Thank you for making this Video for us this is amazing well done Broski 💙💯💪🏼

[@itoongaming]

Your very welcome

[@Jazzyminx3]

Thank you for making this video! I think the UK twitch fam will definitely benefit from this!!

[@itoongaming]

100% Hope it helps

[@noevivero2353]

Can someone share with me twitch's employer identification number or twitch's tax payer identification number? even their VAT number or any identification number, I know for instance Amazon shares it's EIN publicly but for some reason I could not find anything regarding this matter on Twitch's legal or company info on their site

[@Jplays42FN]

If you don’t mind answering my question I completely don’t understand even which tax one to pick service or royalty

[@reaperspree]

Thank you brother for this video a great reminder to keep tabs

[@wooten_]

Well constructed. Thank you for making this video!

[@itoongaming]

Welcome bro

[@LightinGGamer76]

Thank you for making the video because I needed to know all of that literally today lol

[@itoongaming]

all good man!

[@SHiiNSA_]

Ill be waiting for the US Tax info ;)

[@abelive_]

I have a part time job that earns about £200 a month (MAX), and i'm about to get my first twitch payout (of $50).... how does it work with self assessment forms? I'll be earning in total over £1000 but under £12000

[@itoongaming]

You will still need to do a self assessment form to show you incomings from Twitch. You most likely wont have to pay any Tax but you still have to provide your are making money from Twitch.

[@ItsKash_x]

Thank you for this! Just hit affiliate, this information is really helpful💜 If I earn over £12k a year in my primary job and want to do Twitch on the side, do I need to fill in any tax forms to HMRC? I just did the on-boarding process for affiliate and the tax interview so I assume these are all the forms we need to complete? 🤔 Also which payout method would you recommend? Sorry for all the questions!

[@itoongaming]

You still will need to fill out the tax return form regardless and declare it all in there. That is only form, What was your options for pay outs? 😊

[@ItsKash_x]

@@itoongaming Ah thank you! Even if I get like 3 subs, should I declare it now as I’m just getting started? It’s given me local bank payout method, paypal, check or wire transfer. Thanks again for your prompt reply☺️

[@itoongaming]

its only if you make more than 1000 pounds in the year from it. then you have to declare. As for payout you can do local bank payout. @@ItsKash_x

[@EnchantingELK]

So what confuses me is whether Twitch payments class as 'foreign income' or not, because this potentially means that even if we earn below £1k we still might have to declare it. HMRC say 'Whether you need to pay depends on if you're classed as 'resident' in the UK for tax. If you're not UK resident, you will not have to pay UK tax on your foreign income. If you're UK resident, you'll normally pay tax on your foreign income. But you may not have to if your permanent home ('domicile') is abroad.' - When i was filling out their form that lets you check whether you need to declare taxes, even though I mentioned my income was below £1k, when they asked about foreign income and I said yes they said I DID need to fill out a self assessment. If anyone has the answer to this I'd be so grateful!

[@LokahXIV]

This was really helpful info and well explained, thank you!

[@Darkporter]

good thing i looked at this video, i signed a only one interview form and im just gonna leave it

[@CoopZGames_]

Hey great video. I have a question. I became affiliate today and when filling out all the tax interview forms it said I had to pay 30% US tax. Does this mean uk streamers will be double taxed or is there a way around this? Because it asked for a US tin number and I dont have that so I unchecked it and said my country doesn't issue TIN numbers. Have I done something wrong? Please get back to me as I don't want to be double taxed

[@EnchantingELK]

Hey! So technically the UK doesn't issue TIN numbers but UTR or National Insurance do count as them, so for that question you would actually answer yes/check it. I believe for mine I then entered my nation insurance number and all was fine!

[@CoopZGames_]

@@EnchantingELK i have just done that and its not showing any extra tax now. thanks bro i really appreciate that !!

[@BrandonSezHi]

Thanks man! Really helpful, wanted to check this stuff out since I got my first payout , appreciate the video 🫡

[@itoongaming]

Very welcome Brandon 😎