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Old 03-22-2017
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Default 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.
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Old 03-22-2017
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Default 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
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Default 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?
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Default Re: PayPal Tax Year Limit UK?

Nope that is just in the US
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Default 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.
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Old 03-22-2017
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Default Re: PayPal Tax Year Limit UK?

Whys it odd?

You are relied upon to declare your income and pay all relevant tax.
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Default Re: PayPal Tax Year Limit UK?

Different countries have different tax rules.
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Default Re: PayPal Tax Year Limit UK?

Ok guys thanks for the input.

These forums are always helpful.

Thanks!
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