Forum

Alternative way of transferring the money to Abroad other than Paypal?
 

Hello,


I opened another shop on Ebay. The first shop is over a vat registered company i want to run the second shop on my relatives name as a self employed business. If i use his account and annual sale hits more than £30000, i believe we have to let HMRc know. What happens if we don't? If we make for ex, £40000 in a year, on that account and put that money to the bank, and the person is self employed or even jobless, would it ever take attention? I heard something like this i don't know if it's true. If you have high amounts of money coming to your personal account in the UK, your bank will tell that to HMRC. I mean unless bank don't say anything, how would HMRC know about that? I can use that income to send money to my overseas suppliers. How does this HMRC bank relationship work? Any idea?

Re: Alternative way of transferring the money to Abroad other than Paypal?
 

For distance selling the threshold is £70,000 a year

You don't need to be VAT registered before that

Re: Alternative way of transferring the money to Abroad other than Paypal?
 

Welcome to the forums - all the best as you master stealth :thumb:

That's not actually what I'm pointing at.