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16 years old boy makes 30k A MONTH

Reply 20

AshMashMash

11

N'aww, good for him. Pitty about the face, but he does have money...

Reply 21

34253

2

eliotkid

His website looks as if it took 5 minutes to make.

And considering he's under 18 and in full-time education, could he not pay himself all the money a month - since he's immune from paying taxes at that age?

His current pay is upto the limit of what he gets free tax on. No doubt he'll sell it when he goes to uni or something.

Reply 22

The Stig

18

eliotkid

His website looks as if it took 5 minutes to make.

And considering he's under 18 and in full-time education, could he not pay himself all the money a month - since he's immune from paying taxes at that age?

I think it's: You don't get taxed on the first £3000 you earn.

I'm not entirely sure though.

Reply 23

ForMyOwnGain

These stories aren't always totally accurate. There was another story of some kid on my local news who had invented a 'search engine' which was just a domain using the API from Yahoo Search. He claimed to have sold £50,000 worth of untargeted advertising on a site with a very low amount of traffic (barely qualified for public traffic tracking services).

The sun probably just wanted an amazing headline so they multiplied his best day's earning by 31 and said he makes 30k every month.

Reply 24

BigScouser

Fair play to the lad for having some initiative. He's found something he can make a career in and credit to him for doing it so young. Comes with application and determination to succeed. That's why he's a success and I'm not.

Reply 25

KJ21

13

What a legend, well done him

Reply 26

dkdeath

10

I find it kind of hard to believe, first of all dedication ??
It's powered by Cube cart a software which he just bought or got, setting it up, getting it running is i would say 5 hrs max. On that point cube cart does seem unproffesional compared to other e-commerce stores.

In addition prices are not that great, I don't see why anybody would use it when you have other great online stores

Reply 27

Dionysus

15

Judging by the source, and the fact that he's only paying himself £500 a month, I strongly suspect this is a load of hot air.

Reply 28

BigScouser

dkdeath

I find it kind of hard to believe, first of all dedication ??
It's powered by Cube cart a software which he just bought or got, setting it up, getting it running is i would say 5 hrs max. On that point cube cart does seem unproffesional compared to other e-commerce stores.

In addition prices are not that great, I don't see why anybody would use it when you have other great online stores

He's still making a regular wage out of it though isn't he?

Reply 29

BigScouser

Not exactly the most trustworthy source for news (that's an understatement) as this city will testify.

Reply 30

username196545

19

Heh there was a guy in the year above at my old sixth form who sold mobile phones online with his own webby and made an absolute killing. So, it's not impossible... he made thousands, the business studies teacher (my tutor) loved him.

Reply 31

WoWZa

14

This is another example of how the internet can be an amazing source for making awesome $$$. There are others who are earning multiples of that too, although it is products in this instance that are being sold.

Ace.

Spotty Dog

Good on him. He's obviously worked to get where he is, and still has his priorities right. Well done him.

Reply 34

Icy_Mikki

13

LaurenFah

He seems grounded, paying himself £500 p/month. Good luck to him.

The article says nothing about the £30k being profit; I take from that that 30k a month is actually the company's turnover.

That'd be £360k a year, minus a buttload of corporation tax/national insurance/etc for the workers, their salaries, the actual cost of the goods *to him*, any other overheads for the business etc etc- it wouldn't surprise me if all he can actually take from the company is £500 a month. Not that that's bad going for a 16 year old, but it's not amazing.

Reply 35

easy_lemon

Well done to him :smile:

I'd be curious as to where he got the start up capital from though, stock like that doesn't come cheap surely?

Reply 36

ILILILILIL

1

squid

Aye.
In another article he claims to have programmed a notification system, I highly doubt he did that either.

Why?

Boy seems to have his head screwed on though, still doing A levels instead of working on it all the time.

Reply 37

Cortez

17

Loads of company directors pay themselves around £500 a month. It's so they earn enough to pay a tiny bit of NI (to secure their state pension) and minimise how much tax they pay through the payroll. You then take the profits in the form of dividends as they are taxed at a lower rate.

Reply 38

InArduisFouette

21

eliotkid

His website looks as if it took 5 minutes to make.

And considering he's under 18 and in full-time education, could he not pay himself all the money a month - since he's immune from paying taxes at that age?