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-   -   Is it better to create a Stealth Personal or Stealth Business UK PP ? (https://www.aspkin.com/forums/paypal-talk/135742-better-create-stealth-personal-stealth-business-uk-pp.html)

TimTimmington 05-03-2020 11:02 AM

Is it better to create a Stealth Personal or Stealth Business UK PP ?
 
Is there any disadvantages / advantages to creating a stealth business PP over a stealth personal?

I would put the business as a sole trader so no need to provide LTD info. Thinking it might give higher limits?

Any advice appreciated.

Ismail 05-03-2020 11:32 AM

Re: Is it better to create a Stealth Personal or Stealth Business UK PP ?
 
Also interested

JayRay 05-06-2020 01:17 AM

Re: Is it better to create a Stealth Personal or Stealth Business UK PP ?
 
Yes, business accounts do have higher limits

Ebayorbust 05-06-2020 01:39 AM

Re: Is it better to create a Stealth Personal or Stealth Business UK PP ?
 
Quote:

Originally Posted by JayRay (Post 1091360)
Yes, business accounts do have higher limits

The question is about Paypal.

Ebayorbust 05-06-2020 01:41 AM

Re: Is it better to create a Stealth Personal or Stealth Business UK PP ?
 
Quote:

Originally Posted by TimTimmington (Post 1090679)
Is there any disadvantages / advantages to creating a stealth business PP over a stealth personal?

I would put the business as a sole trader so no need to provide LTD info. Thinking it might give higher limits?

Any advice appreciated.


It's the account activity that determines your chance of limitation. Whether the account is personal or business makes no difference.

rsot 05-06-2020 02:56 AM

Re: Is it better to create a Stealth Personal or Stealth Business UK PP ?
 
Listen to Ebayorbust OP

TimTimmington 05-06-2020 01:10 PM

Re: Is it better to create a Stealth Personal or Stealth Business UK PP ?
 
Ok thanks for the replies, so really no benefit in business acc with PP. But by the sounds of it eB its a good idea to do for higher limits or is it best to go personal and then after a bit warming up change to biz? Thanks !

TenchoTenev 10-12-2020 08:37 AM

Re: Is it better to create a Stealth Personal or Stealth Business UK PP ?
 
Switching from personal to business is not a good idea.Imagine you were with personal account for two years and then switch to business. If the authorities do a check of your company history they will easily understand that you didn't pay your taxes, don't have invoices for your goods, etc while you were with personal account and they will probably make you pay the taxes for the past period.

damaxx 10-20-2020 05:13 AM

Re: Is it better to create a Stealth Personal or Stealth Business UK PP ?
 
Not much advantages

rsot 10-20-2020 06:04 AM

Re: Is it better to create a Stealth Personal or Stealth Business UK PP ?
 
Quote:

Originally Posted by TenchoTenev (Post 1119591)
Switching from personal to business is not a good idea.Imagine you were with personal account for two years and then switch to business. If the authorities do a check of your company history they will easily understand that you didn't pay your taxes, don't have invoices for your goods, etc while you were with personal account and they will probably make you pay the taxes for the past period.

Welcome to the forum - all the best as you master stealth :thumb:


sdzc 10-25-2020 10:47 AM

Re: Is it better to create a Stealth Personal or Stealth Business UK PP ?
 
Always personal. Pretty sure u need more doc to proof you own a business etc.

winge00 10-25-2020 09:43 PM

Re: Is it better to create a Stealth Personal or Stealth Business UK PP ?
 
Quote:

Originally Posted by TenchoTenev (Post 1119591)
Switching from personal to business is not a good idea.Imagine you were with personal account for two years and then switch to business. If the authorities do a check of your company history they will easily understand that you didn't pay your taxes, don't have invoices for your goods, etc while you were with personal account and they will probably make you pay the taxes for the past period.

This is good point


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