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Help re vat
 

Hi guys

so i bought a stealth account due to an eBay suspension

obviously the address and paypal address are not set up in my name etc!

i have sold £1100 of stuff so far and have another £2000 worth of stuff to sell..

the account i have is a business account although i am a private seller

my question is,, if HMRC decide they want VAT not he sales, where do i stand as obviously the account is ⊗⊗⊗⊗, well not in my name etc ?

Regards

Re: Help re vat
 

You only worry about vat if you sell over £82000 in a yearly period.

You don't pay any taxes if you are a genuine private seller selling off your old items.

Re: Help re vat
 

I'm selling off my old excess stock items that i have had for a few years , bu tits set up as a business account under someone else details due to the suspension!

am i worrying about nothing ?

Re: Help re vat
 

If you have been operating as a business in the past year, paying taxes etc then just include this 'excess' stock as part of that.

Just because its a stealth account doesn't mean you operate differently to a non stealth account.

Re: Help re vat
 

hi JS,, the business shut down ,, so I'm now a private seller! ?

Re: Help re vat
 

dont worry about it if thats all you're selling