Starting multiple ebay accounts LIMITED COMPANY AND HMRC
So how would you get around this.
I have one account [ account 1] opened under the limited company[abc ltd]. I feel like I have a silent limit.
I have read the book but feel this query is not answered , so help on this will be greatly appreciated so i can proceed.
----------------------------------
example :
my current account is set out like this
ebay name :abc ltd
paypal name : my personal name
under business info : abc ltd
bank: abc ltd
-------------------------------
i want to open account 2. would this be the current layout ?
ebay name : friend name
paypal name : friend name
under business info : friend name [ dont tell paypal it is a ltd same as abc ltd]
bank : friend name
-----------
then just declare the sales onto abc ltd companies VAT return and tax calculation for tax purposes..
is any one else dealing with LIMITED companies like this ?
the concern I have is if the invoices are on my friends name for ebay , declaring them to HMRC for ABC ltd maybe an issue....
One advice I have been given is to have ebay store in anyones name but to simply have "trading under abc ltd" on the invoice.
but the VAT number would be the same.
i have been on :
my ebay >>> account tab >>> site preferences >>>> business seller preferences
when I have gone to "show vat on my receipts" it shows my VAT number , so ebay does have my VAT number.
I could do it on someones name , however I believe I will hit the £70k threshold for VAT pretty soon as the category I am in is high volume and low margins.
Is registering for a new VAT registered company the only option ?
is anyone else in a similar situation.
|