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  #1  
Old 09-22-2020
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Default managed payments registration

Hi all, managed payments concern/question.
My ebay account is 3 years old and was attached to my ltd company. It's in my own correct details name, address etc.
I closed down the ltd company last month and my VAT was unhooked by ebay automatically. Account got restricted from listing items until i added a new vat number which was frustrating as i wanted to set up a new company and stay under the VAT threshold but was told if i use the same account (which is a big account i want to keep), i have to add a VAT number. As the ltd company is still in process of closing, and i can't start a sole trader business still being a director, my husband set up as the sole trader and we registered for VAT right away. ebay account turned back on.

Now we are at the stage of being forced onto MP my concerns are the following:

1. my husband was banned from ebay 5 years ago.
2. The business is solely in his name
3. The ebay account and bank account are in my name.
4. I'm concerned about the 25% ownership requirements of needing to upload their id.

basically, do i have to put him as the sole owner of the business or can i lie and just put myself, will they know?
will they question why i'm the account owner and the bank account owner but not anything to do with the company?
Stuck!
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  #2  
Old 09-22-2020
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Default Re: managed payments registration

Wish I could help more but I don't know much about MP yet, as do any of us really.

The whole 25% thing.. did you sell off part of the company? If so don't worry you can say you own 100%. Just make sure you give investors a K9.



Quote:
Originally Posted by bamboobean View Post
Hi all, managed payments concern/question.
My ebay account is 3 years old and was attached to my ltd company. It's in my own correct details name, address etc.
I closed down the ltd company last month and my VAT was unhooked by ebay automatically. Account got restricted from listing items until i added a new vat number which was frustrating as i wanted to set up a new company and stay under the VAT threshold but was told if i use the same account (which is a big account i want to keep), i have to add a VAT number. As the ltd company is still in process of closing, and i can't start a sole trader business still being a director, my husband set up as the sole trader and we registered for VAT right away. ebay account turned back on.

Now we are at the stage of being forced onto MP my concerns are the following:

1. my husband was banned from ebay 5 years ago.
2. The business is solely in his name
3. The ebay account and bank account are in my name.
4. I'm concerned about the 25% ownership requirements of needing to upload their id.

basically, do i have to put him as the sole owner of the business or can i lie and just put myself, will they know?
will they question why i'm the account owner and the bank account owner but not anything to do with the company?
Stuck!
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  #3  
Old 09-23-2020
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Default Re: managed payments registration

Hi Help, the ltd company was closed down (well put into the process of) and the VAT number de registered so that tripped ebays 'add a vat number to your account' situ. As the ebay account has had over the VAT threshold put through it, they said i couldn't just change the name of the business on the ebay account and start again with VAT from 0. So i had to register for VAT straight away with the new sole trader company to keep the ebay account.

As the director of the ltd company still that will take a few months to close, i can't set up as self employed so that's why my husband set the sole trader company up instead so i have no stake in this as of yet.
I guess my question is, will ebay allow me to be the ebay account holder, the bank account be mine, and the company be in only my husbands name? or will they say he needs his own account?
Will they even know if i just say i own the company or do they have ways of checking who's name is on the company?
I feel like I'm constantly tying myself in circles with ebay!!
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Old 09-23-2020
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Default Re: managed payments registration

Quote:
Originally Posted by bamboobean View Post
Hi Help, the ltd company was closed down (well put into the process of) and the VAT number de registered so that tripped ebays 'add a vat number to your account' situ. As the ebay account has had over the VAT threshold put through it, they said i couldn't just change the name of the business on the ebay account and start again with VAT from 0. So i had to register for VAT straight away with the new sole trader company to keep the ebay account.

As the director of the ltd company still that will take a few months to close, i can't set up as self employed so that's why my husband set the sole trader company up instead so i have no stake in this as of yet.
I guess my question is, will ebay allow me to be the ebay account holder, the bank account be mine, and the company be in only my husbands name? or will they say he needs his own account?
Will they even know if i just say i own the company or do they have ways of checking who's name is on the company?
I feel like I'm constantly tying myself in circles with ebay!!
eBay is like that, you have to get the right rep. I don't have as much expertise in the UK, but give them a call and see what you can work out with them.
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  #5  
Old 09-30-2020
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Default Re: managed payments registration

2 could possibly open a second ebay account and keep both below 80k turnover per year so ebay wont ask for vat number
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  #6  
Old 10-05-2020
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Default Re: managed payments registration

Quote:
Originally Posted by bamboobean View Post
Hi Help, the ltd company was closed down (well put into the process of) and the VAT number de registered so that tripped ebays 'add a vat number to your account' situ. As the ebay account has had over the VAT threshold put through it, they said i couldn't just change the name of the business on the ebay account and start again with VAT from 0. So i had to register for VAT straight away with the new sole trader company to keep the ebay account.

As the director of the ltd company still that will take a few months to close, i can't set up as self employed so that's why my husband set the sole trader company up instead so i have no stake in this as of yet.
I guess my question is, will ebay allow me to be the ebay account holder, the bank account be mine, and the company be in only my husbands name? or will they say he needs his own account?
Will they even know if i just say i own the company or do they have ways of checking who's name is on the company?
I feel like I'm constantly tying myself in circles with ebay!!
Not to frighten you but good accounts have lost accounts due to Mp move with mismatch names. I think a company would have been best as you would show company bank statement which would match up.
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