I am not going to put all of my questions into one post as I want to keep it clear and more organised.
I am currently employed full-time with a salary of ~£16k per annuum. I pay tax from this income with PAYE.
Next to that, I want to start my own business without quitting my primary job.
I already know that the estimated income from my business will be £35.00 per month making the income of less than £500.00.
1. Do I have to pay any tax at all with such a small income?
2. Do I have to establish a separate business bank account for the business regardless of small or no income?