My friend and I are co-running a website. He is over 18 and lives in the UK and I'm under 18 and live in the US. He gets all the money from the site into his Paypal, and is going to pay me half.
The amount of money involved is equivalent to the income that would be earned from a part-time or full-time job.
Who would have to pay taxes? What are the relevant forms or regulations in each country? What would be the best way to transfer my half from him to me without him being taxed on it?