Is it better to create a Stealth Personal or Stealth Business UK PP ?

[TimTimmington]

Is there any disadvantages / advantages to creating a stealth business PP over a stealth personal?

I would put the business as a sole trader so no need to provide LTD info. Thinking it might give higher limits?

Any advice appreciated.

[Ismail]

Also interested

[JayRay]

Yes, business accounts do have higher limits

[Ebayorbust]

Originally Posted by JayRay

Yes, business accounts do have higher limits

The question is about Paypal.

[Ebayorbust]

Originally Posted by TimTimmington

Is there any disadvantages / advantages to creating a stealth business PP over a stealth personal?

I would put the business as a sole trader so no need to provide LTD info. Thinking it might give higher limits?

Any advice appreciated.

It's the account activity that determines your chance of limitation. Whether the account is personal or business makes no difference.

[rsot]

Listen to Ebayorbust OP

[TimTimmington]

Ok thanks for the replies, so really no benefit in business acc with PP. But by the sounds of it eB its a good idea to do for higher limits or is it best to go personal and then after a bit warming up change to biz? Thanks !

[TenchoTenev]

Switching from personal to business is not a good idea.Imagine you were with personal account for two years and then switch to business. If the authorities do a check of your company history they will easily understand that you didn't pay your taxes, don't have invoices for your goods, etc while you were with personal account and they will probably make you pay the taxes for the past period.

[damaxx]

Not much advantages

[rsot]

Originally Posted by TenchoTenev

Switching from personal to business is not a good idea.Imagine you were with personal account for two years and then switch to business. If the authorities do a check of your company history they will easily understand that you didn't pay your taxes, don't have invoices for your goods, etc while you were with personal account and they will probably make you pay the taxes for the past period.

Welcome to the forum - all the best as you master stealth

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[sdzc]

Always personal. Pretty sure u need more doc to proof you own a business etc.

[winge00]

Originally Posted by TenchoTenev

Switching from personal to business is not a good idea.Imagine you were with personal account for two years and then switch to business. If the authorities do a check of your company history they will easily understand that you didn't pay your taxes, don't have invoices for your goods, etc while you were with personal account and they will probably make you pay the taxes for the past period.

This is good point