UK Tax, Bank Account & self employed status

[eiross]

hi

Please help!

currently have about 2/3 stealth Amazon accounts doing well and an ebay but obviously they have no connection to me other than the bank account attached to them, just wondering (i know it might seem silly to you pro's) but does anybody else declare earnings or some monies for tax? self employed or otherwise?

just a little worried about what if anything is visible as the amazon deposits 'pile up' and cash flows in....

what does everyone else do?

also if there is a 'tie' to an address or name would/should something be declared in case of a knock at the door????"?"?"



thanks guys!

[GreenBean]

Anyone earning money pays taxes.

there is no free pass to not do so.

HMRC likes 'numbers' and 'amounts'.

Seek professional tax advice for the matter.

Good Luck

[MICKY H]

As GB says, seek professional advice.

[eiross]

hi guys

more than happy to pay tax, just wanted to some advice from anyone currently paying and how their personal stealth set up works in regards to tax ....

i'll try and clarify, what i meant was, do you actually pay for ALL stealth accounts or just some of them, or none?

i know TAX seems a little 'taboo' on here just wanted to know how others feel about large bank deposits etc into correctly name bank account but the source being under other names/address's etc

just don't feel completely comfortable paying tax on sales generated the way we know and love, also would it not raise 'flags' paying against someone else's/⊗⊗⊗⊗ name and trading figures?...would i be paying tax that doesn't need to be paid? i guess that's what i am asking..

am i worrying about nothing?!

I will seek advice but so far all the advice i get is 'pay what you owe' or 'everyone has to pay tax' or 'pay everything that's in your own name' (which would be none) all not helpful what so ever...usually someone pays tax on earnings, stealth is different, i'm just asking for some help from others who must all be doing something with their monies!

PLEASE HELP and maybe advise what you currently do.... no need for specifics just an outline, all anonymous here, are we not?!

[barrycruan]

You are stealth to amazon, not to hmrc. It's not difficult for them to look at money going into bank accounts in your name and then to find out where it is coming from. I'm not judging but you seem to be under the impression stealth on amazon = stealth to hmrc and you couldn't be more wrong.

Also the payment from amazon to your account will not have any name on it so this does not matter in terms of paying tax under someone else's name.

[MICKY H]

All monies that amazon send you I guess go into your personal bank accounts, so as far as HMRC go, this is classed as income which you will be taxed on. Obviously you have outgoing's for purchases etc which is offset against your income. As Barry says, you are not stealth to HMRC. Everyone has to pay some tax, get a good accountant and he should be able to reduce to liability so you only pay the minimum.