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West Ender · 21-09-2008, 22:16

I have been writing a book for about 4 years. I write it when I have time to spare and the "muse" is on me.

If I ever finish it and submit it for publication, and if it is accepted and published, I might make some money from it. The money would be taxed in the year in which it was earned, i.e. the year when I received payment. Any time spent preparing the book for publication and payment could not be classed as "earning" time as there would be no reward during this period. Until such time as it became lucrative, which might be never, it could only be classed as a hobby.

21-09-2008, 22:16	#12
West Ender Passed away 25-11-09 Join Date: Feb 2005 Location: Lymm, Cheshire Posts: 2,674 Blog Entries: 147 Liked: 2 times Rep Power: 192	Re: What use is a Million pounds? I have been writing a book for about 4 years. I write it when I have time to spare and the "muse" is on me. If I ever finish it and submit it for publication, and if it is accepted and published, I might make some money from it. The money would be taxed in the year in which it was earned, i.e. the year when I received payment. Any time spent preparing the book for publication and payment could not be classed as "earning" time as there would be no reward during this period. Until such time as it became lucrative, which might be never, it could only be classed as a hobby. __________________ * Some cinemas let the flying monkeys in............and some don't.