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UK eBay & Paypal General discussions about eBay.co.uk Suspensions and Paypal.co.uk limited accounts. This forum is geared towards UK eBay & Paypal sellers.

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Old 07-31-2012, 03:21 PM
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Default Do you have to declare money made from sales on ebay?

Iv seen in the paper lately that the taxman has got a tax bot to scan ebay.
If i am purchasing items from dhgate to resell on ebay (probly sell around 50 - 70 items a month).
Do i need to upgrade my account to a buisness account?
Also if i kept it as a personal account how would any body know what and how much im selling?

Any advice will be appriciated.

Thanks in advance x
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Old 07-31-2012, 03:25 PM
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banks can report to the man, and the man can scan ebay and get business acc addresses on the listing.
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Old 07-31-2012, 03:30 PM
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whst about personal accounts?
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Old 07-31-2012, 03:30 PM
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tax dodging can lead to trouble

if you earn it then pay it

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Old 07-31-2012, 03:31 PM
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Quote:
Originally Posted by powerjam View Post
whst about personal accounts?
buying to resell is running a business

if it walks,waggles and quacks then its a duck no matter what you want to call it
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Old 07-31-2012, 03:36 PM
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Quote:
Originally Posted by powerjam View Post
whst about personal accounts?
still leads to your bank though...unless you sell for cash on collection or use paypal money to buy stuff that you then sell for cash...

as TSMT said, paying some tax is your duty, chavs need their social security benefits
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Old 07-31-2012, 03:45 PM
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so it is best to upgrade my account to a buisnes account is the short of it!
do you have to say what your selling? or is it just how much it cost and profit ect? as i buy alot off dhgate and thay have a bit of a rep with the items on there
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Old 07-31-2012, 03:52 PM
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Might be best to hire an accountant if overly concerned.
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Old 07-31-2012, 05:11 PM
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Quote:
Originally Posted by powerjam View Post
so it is best to upgrade my account to a buisnes account is the short of it!
do you have to say what your selling? or is it just how much it cost and profit ect? as i buy alot off dhgate and thay have a bit of a rep with the items on there
If you earn the money then you should declare it and pay the tax.

If you need business and tax advice then your best to get an accountant.
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Old 07-31-2012, 07:26 PM
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Since you earn money you pay TAXES.

Tax PROFESSIONALS guide you

Simples
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