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Old 04-19-2021
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Default lads im fu*ked

Hi, recently on one of my main stealths, it has been doing very well, and i have now been asked to register for VAT, which i do not want to.

It says i 'may be restricted after 30 days if i do not comply'. Is this true? What if i do not give a VAT number after these 30 days, would i immediately get the boot?

Has anyone had this experience of not giving a VAT number and getting away with it?
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Old 04-19-2021
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Default Re: lads im fu*ked

The accounts toast. What was the total 12 month sales when the request was triggered ?
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Default Re: lads im fu*ked

Around 95k (10k over the threshold indeed). I was expecting it, but want as much time to shift my stock

Do you think they'll give me a few more weeks after the 30 days?

And since i dont mind losing the account, can i buy time by putting a f*ke VAT number? I just want to shift my stock and call it a day for a short while lol

Last edited by ebaywanton; 04-19-2021 at 08:40 PM.
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Old 04-19-2021
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Default Re: lads im fu*ked

Quote:
Originally Posted by ebaywanton View Post
Around 95k (10k over the threshold indeed). I was expecting it, but want as much time to shift my stock

Do you think they'll give me a few more weeks after the 30 days?

And since i dont mind losing the account, can i buy time by putting a f*ke VAT number? I just want to shift my stock and call it a day for a short while lol
They will restrict your ability to edit any listing after 30days so best for you to increase the qutantity of the items and untill it goes zero you will able to sell even after 30days
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Default Re: lads im fu*ked

Thats good enough i guess lol.

Also, when i am banned, will it be like a MC113 ban where i cannot access the account at all?
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Default Re: lads im fu*ked

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Originally Posted by ebaywanton View Post
Thats good enough i guess lol.

Also, when i am banned, will it be like a MC113 ban where i cannot access the account at all?
no nothing account will be normal just you cant edit or list new items
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Default Re: lads im fu*ked

Quote:
Originally Posted by ebaywanton View Post
Around 95k (10k over the threshold indeed). I was expecting it, but want as much time to shift my stock

Do you think they'll give me a few more weeks after the 30 days?

And since i dont mind losing the account, can i buy time by putting a f*ke VAT number? I just want to shift my stock and call it a day for a short while lol
Once they implement the lock it will just keep telling you to become VAT registered or provide an exemption certificate.

If you're over the threshold by 10k already and you plan on carrying on with selling you have bigger things to worry about than ebay tbh.
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Default Re: lads im fu*ked

Quote:
Originally Posted by ebaywanton View Post
Thats good enough i guess lol.

Also, when i am banned, will it be like a MC113 ban where i cannot access the account at all?
You just cannot edit and listings or make new listings until the VAT is entered - it wont reset though so the account is all bud dead after that
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Default Re: lads im fu*ked

Indeed, i was expecting this. I actually got hooked with ebay and never kept track of the financials lol.

Also, what do you mean i have bigger things to worry about? I assume you mean HMRC and paying tax?
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Default Re: lads im fu*ked

Also, before anyone asks why i dont want to enter a VAT number, its because if i go through the hassle of making a company, and applying for VAT, i may get banned on ebay due to their stupid rules. So its not worth it in my eyes.

I'd rather just start fresh and spread sales this time. We go again!
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Default Re: lads im fu*ked

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Originally Posted by ebaywanton View Post
Indeed, i was expecting this. I actually got hooked with ebay and never kept track of the financials lol.

Also, what do you mean i have bigger things to worry about? I assume you mean HMRC and paying tax?
Not an issue so long as you are putting the earnings on your self assessment
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Default Re: lads im fu*ked

Perfect, i got worried for a sec.

I did consider registering for VAT but i have a stealth address, and changing my ebay address to my real one would likely link me :(
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Default Re: lads im fu*ked

You could just use a rented address - lots of company formation companies offer 'virtual addresses' which are fine for the Ltd - no need to then change the eBay address
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Default Re: lads im fu*ked

Oh cool. Would it also be okay if my ebay company name simply matches my LTD company name, but the address does not match?
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Default Re: lads im fu*ked

Quote:
Originally Posted by ebaywanton View Post
Perfect, i got worried for a sec.

I did consider registering for VAT but i have a stealth address, and changing my ebay address to my real one would likely link me :(
If you aren't keeping track of your financials now then it's gets even worse when you register for VAT.

You're book keeping needs to be immaculate and as you say selling stealth and VAT is just not worth it.

Scale back your sales or split up your businesses.
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Default Re: lads im fu*ked

Very true, thats the next step for me.

eBay has been so time consuming to the point where you almost forget about the important things like book keeping sales/profits etc. I get sales, test the items, pack them up, and post out, then sleep. And dont get me started on returns and fussy customers haha

The game is long lol
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Default Re: lads im fu*ked

Do you also think ebay will give my details to HMRC? They have my passport ID and bank statement from when i registered to Managed Payments.
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Default Re: lads im fu*ked

Quote:
Originally Posted by ebaywanton View Post
Very true, thats the next step for me.

eBay has been so time consuming to the point where you almost forget about the important things like book keeping sales/profits etc. I get sales, test the items, pack them up, and post out, then sleep. And dont get me started on returns and fussy customers haha

The game is long lol
Yes it's difficult running all aspects of a business on your own.

You will have to get everything in order yourself or pay an accountant to do it all.
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Default Re: lads im fu*ked

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Originally Posted by ebaywanton View Post
Do you also think ebay will give my details to HMRC? They have my passport ID and bank statement from when i registered to Managed Payments.
Not voluntarily but if HMRC request details i.e. if they ask ebay for seller info on users that have gone over the VAT threshold. You never know ...
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Default Re: lads im fu*ked

If UK the VAT flat rate is only 7.5 % with a 1 % discount on first year - not a lot and easy to apply online. No need to become a company if you act as a sole trader and for stealth address now has to match up with bank at moment anyway to get through managed payments.
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Default Re: lads im fu*ked

Indeed but i have passed MP with my stealth address (just photoshop your stealth address on the bank statement). It works for me lol
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