Uk Stealth

[eusebio]

Dont want to burn docs, so I would rather ask.

1. ID under my friends details and my bank account, would it work, ie how does etsy verify ID's and Bank accounts?

2. Revolut VCC would work even though it is on my name which correspondence with already existing account. Will they link them?

What else should I be aware of when creating stealth? New user account, new Ip, new email, this I am aware of.

Many thanks.

[OldTom]

Creating the account aside, have you addressed the taxation issues? Etsy will be sending the sales data to HMRC and there is the possibility that your friend will be contacted and potentially deemed liable for additional income tax.

Seek professional advice before potentially dropping your friend in it.

Forgot to mention don't share any info between accounts...nothing at all.

[Jackies]

Originally Posted by OldTom

Creating the account aside, have you addressed the taxation issues? Etsy will be sending the sales data to HMRC and there is the possibility that your friend will be contacted and potentially deemed liable for additional income tax.

Seek professional advice before potentially dropping your friend in it.

Forgot to mention don't share any info between accounts...nothing at all.

It seems to me that income tax will be allocated to the bank account (if at all), unless in the UK you provide something more than name, surname and date of birth?

[rswomA]

Originally Posted by Jackies

It seems to me that income tax will be allocated to the bank account (if at all), unless in the UK you provide something more than name, surname and date of birth?

Where did you read that? if they can't comfirm your tax id, they will suspend your account instead

[Jackies]

Originally Posted by rswomA

Where did you read that? if they can't comfirm your tax id, they will suspend your account instead

I did the same, this year they asked me in several stores for the TIN number but I didn't provide it and I was suspended, although there is still a slight chance that I will send data such as name, surname and DOB, I mean DAC7, just like you probably do.

[Jackies]

what I mean is that if by some miracle etsy sends your store's DAC7 report with basic data, the tax office should still audit the real owner of the bank account and not the owner of the etsy account - I hope so

[rswomA]

Originally Posted by Jackies

what I mean is that if by some miracle etsy sends your store's DAC7 report with basic data, the tax office should still audit the real owner of the bank account and not the owner of the etsy account - I hope so

I don't think they will send the informations after you didn't comfirm TIN ..., I'm not sure, what do you think?

[Jackies]

Originally Posted by rswomA

I don't think they will send the informations after you didn't comfirm TIN ..., I'm not sure, what do you think?

Where you from

[rswomA]

Originally Posted by Jackies

what I mean is that if by some miracle etsy sends your store's DAC7 report with basic data, the tax office should still audit the real owner of the bank account and not the owner of the etsy account - I hope so

What if they discover a different name in the bank, Its Etsy responsibility to have the same name in the bank and on Etsy

[Jackies]

Originally Posted by rswomA

What if they discover a different name in the bank, Its Etsy responsibility to have the same name in the bank and on Etsy

etsy will not discover this, only the tax office to which the report will be sent can do it, if the report reaches the office, it is better to pay income tax based on the inflows to your real bank account
I think that etsy account details do not matter much, especially in Europe, when registering we only provide basic information without tax numbers, as e.g. in the USA

[OldTom]

Originally Posted by Jackies

It seems to me that income tax will be allocated to the bank account (if at all), unless in the UK you provide something more than name, surname and date of birth?

Then you'd be wrong, we have UTR's for starters.

[Jackies]

ah okay, in Europe we don't provide TIN when registering, they only ask us now that the DAC7 directive has come into force - I personally don't provide these numbers on Stealth and I allow the store to be suspended - Etsy has its headquarters in the UK, so you are more centralized than the 27 EU countries

[rswomA]

Originally Posted by Jackies

ah okay, in Europe we don't provide TIN when registering, they only ask us now that the DAC7 directive has come into force - I personally don't provide these numbers on Stealth and I allow the store to be suspended - Etsy has its headquarters in the UK, so you are more centralized than the 27 EU countries

How much time they gave you to provide TIN before you got suspended?

[rsot]

Originally Posted by rswomA

How much time they gave you to provide TIN before you got suspended?

TIN is for USA

[Jackies]

Originally Posted by rsot

TIN is for USA

Nope, TIN is for 90% Country of the world, tax identification number

[murdered_by_ebay]

HMRC asked marketplaces to collect national insurance numbers from individuals and company numbers from corporations , UTR will not be asked for

[OldTom]

Originally Posted by murdered_by_ebay

HMRC asked marketplaces to collect national insurance numbers from individuals and company numbers from corporations , UTR will not be asked for

UTR's are already being asked for by some marketplaces, I know ebay and Amazon do.

In any event, taxation is not managed via NI numbers, and if it is to be when will platforms start demanding them because they're not at the moment.

What about sellers who do not have a NI number?

[murdered_by_ebay]

ebay do not ask for UTR and amazon have been doing it for years voluntarily

the HMRC guidance from november specifically says NIN for individuals and company number for businesses

it also says that UTR and VAT number are not accepted as replacement for NIN or company number

[OldTom]

Originally Posted by murdered_by_ebay

ebay do not ask for UTR and amazon have been doing it for years voluntarily

the HMRC guidance from november specifically says NIN for individuals and company number for businesses

it also says that UTR and VAT number are not accepted as replacement for NIN or company number

I've literally just had to send my UTR letter to ebay for a private account I've just converted to a business. No mention of NI number. Clearly UTR and VAT number will be no substitute for NI numbers, they never have been because they relate to completely different matters.

Voluntarily or not, Amazon do collect them, yet they've never asked for NI number.

Given the new laws apply from literally next week, I'm amazed sales platforms haven't started collecting National Insurance numbers, they've only got 12 months before reporting starts. What about those who don't have an NI number?

Anyway, we're all somewhat in the dark as to where this is all leading. Do you have a link to confirm that HMRC have instructed sales platforms to collect NI numbers, I can't find it. Thank you in advance.

[murdered_by_ebay]

what did ebay ask you to upload? probably you sent UTR as replacement for some other document , I have never heard of a single request by ebay for UTR , for letters from HMRC yes , specifically UTR no

a tax lawyer told me about this so you can expect NIN requests from next year

[OldTom]

Originally Posted by murdered_by_ebay

a tax lawyer told me about this so you can expect NIN requests from next year

okay, so no link to the HMRC guidance from November specifically saying NI numbers for individuals and company number for businesses (Limited Companies I assume you mean, most businesses are sole traders and only have a UTR) will be mandatory, just hearsay.

If they do indeed intend to demand them then next year is going to be fun and games for sure. Can't believe they've not acted yet, they have to provide data from the period beginning next week! I wonder what penalties HMRC have got lined up for sales platforms if they fail to do so for every private seller and sole trader. I wonder what the implication for those who trade but legitimately don't need a National Insurance number will be?

Surprised the account sellers here aren't all over this, it's a game changer for them yet I've seen no mention of it.

[murdered_by_ebay]

it does not change much , the actual tax reports need to be done by january 2025 so ebay will probably start requesting data in the first half of the year

the guidance was saying that the new data will need to be included in the onboarding process and active sellers would get their selling abilities limited if they do not provide the data on time , interestingly they said they specifically did not recommend to suspend anyone but just limit them , they probably fear mass death of tax payers

another interesting point is that HMRC decided not to request any data from foreign marketplaces with no establishment or business in the UK for UK sellers they might have , this is the main difference between DAC7 UK and DAC7 EU