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PayPal Tax Year Limit UK?
 

Hi,

I am wondering how much can you earn with PP within the tax year? (UK)

With an (UK) PP account that has had ALL the limits removed.

Also when does the tax year start?... Is it from when you have received your first payment? Or is it the same for everyone like April to April?

Thanks.

Re: PayPal Tax Year Limit UK?
 

If it has all limits removed then there are no limits.

The tax year would be April to April but that isn't anything to do with the EU limits

Re: PayPal Tax Year Limit UK?
 

I was reading that in the US they inform the IRS when a PP account has reached 20k in payments or 200 transactions worth of payments, Is there not something like this for UK accounts?

Re: PayPal Tax Year Limit UK?
 

Nope that is just in the US

Re: PayPal Tax Year Limit UK?
 

Are you 100% sure on this? Seems a little odd that they wouldn't have something the same in place over here in the UK.

Re: PayPal Tax Year Limit UK?
 

Whys it odd?

You are relied upon to declare your income and pay all relevant tax.

Re: PayPal Tax Year Limit UK?
 

Different countries have different tax rules.

Re: PayPal Tax Year Limit UK?
 

Ok guys thanks for the input.

These forums are always helpful.

Thanks!