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Using bank account for stealth
 

I want to start selling using stealth on Ebay and would like to know if this is a safe thing to do.

I will have around £2000 going through my bank every month and im worried the bank or the IRS will pick up on it and ask where the funds are coming from. How do i approach this problem? If i dont make 12.5k a year will they not care?

I dont assume i can buy gift cards through my stealth Paypal? I just dont want the government giving me issues from running an ebay account that makes money.

I'm already employed however i want a little side hustle and want to stay out of trouble :)

Re: Using bank account for stealth
 

Firstly you will need to build up slowly, don't just try and jump upto £2000 monthly.

My advice is if you plan to make and extra £12,500 a year then you should pay your tax on it.

Re: Using bank account for stealth
 

How do i pay the tax? sorry for being moronic but ive never been self employed

Re: Using bank account for stealth
 

tell your tax guy how much you made on ebay for the year.

Re: Using bank account for stealth
 

If you are just doing it as self employed with a small turnover you can just speak to an accountant to sort out your tax return.

You should do it before you start, you’ll also be able to keep expenses receipts to reduce your tax bill

Re: Using bank account for stealth
 

I have an issue as i purchase my stock through btc. I cant specify where i send my money to buy my goods as the supplier has no invoice or anything.

Is it necessary if i only make around £500 a month?

I dont think i can run my ebay as a legitimate business, and the tax man will want to know where my money is coming from. Or will he?

Re: Using bank account for stealth
 

The accountant will understand this.

Do try to avoid troubles with HM Revenue and Customs of the UK.

They are not nice. Not at all.

:coffee:

Re: Using bank account for stealth
 

This forum isn’t here to help you avoid tax. If you’re making £500 a month then you should pay tax on it, why would you be different.

If you’re using bitcoin then find an accountant that understands it

Re: Using bank account for stealth
 

Correct - financial advice is beyond scope of this forum.

Re: Using bank account for stealth
 

Except if tis you sniffin’ about!


:pound: