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Old 01-25-2016
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Default PayPal may want PROOF of registration from companies house.

Hi everyone,

I'm very intrigued by this and wondered if anybody has ever had to do what I'm going to explain.

Not too long ago PayPal asked for all my ID plus invoices so I submitted it to them and they passed with flying colours but I did ring up to get them passed quicker. Anyway on the phone the lady wanted to know if i'm registered with companies house?

I said No because I don't earn enough to register my business and its more a hobby. She said that's ok and that's when all my docs were accepted.

My worry is if I earn enough will I have to provide details from companies house to them?

I don't just have one stealth account either I have many more.

Any help would be appreciated?
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Old 01-25-2016
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Default Re: PayPal may want PROOF of registration from companies house.

No you won't. You can run as a sole trader and still earn the same amount of money. This is where people get confused, you never have to register a LTD just because you're taking a lot of money. You can be a sole trader without a company number, but your tax liability would be higher as a sole trader.

Always run stealths as sole traders and keep a LTD off the record and put all your sales through the LTD, best way to do it.
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Old 01-25-2016
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Default Re: PayPal may want PROOF of registration from companies house.

Running everything as a sole trader as far as PayPal is concerned it totally fine.

Only at a certain threshold does it make sense to become a Ltd company, but even if you do PayPal does not need to know that you have become a Ltd company.
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Default Re: PayPal may want PROOF of registration from companies house.

At the moment my stealth accounts are run as an individual business would you recommend me changing them to a sole trader then?
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Default Re: PayPal may want PROOF of registration from companies house.

Is this just a PayPal or also an eBayl?

If its the PayPal you can upgrade to a business account if you want. You get more functionality out of the website

They do require you to fill in an extra form though
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Default Re: PayPal may want PROOF of registration from companies house.

All my eBay and PayPal accounts are set up as businesses. On PayPal none of them are set up as sole trader as it was easy for me to set them up as individual business.

I was just worried that I may have to supply something to them as I have so many accounts and would never be able to supply companies house info but looks like I need to change to sole trader then hopefully I'll be alright
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Default Re: PayPal may want PROOF of registration from companies house.

I wouldn't upgrade to a business PayPal at all.

Absolutely no need to if you're running a premier account.

If you liked getting asked for a shed load more documentation upon limitation of the account upgrade to business, I really have never found any benefits to do so.
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Old 01-25-2016
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Default Re: PayPal may want PROOF of registration from companies house.

Quote:
Originally Posted by samspalace View Post
All my eBay and PayPal accounts are set up as businesses. On PayPal none of them are set up as sole trader as it was easy for me to set them up as individual business.

I was just worried that I may have to supply something to them as I have so many accounts and would never be able to supply companies house info but looks like I need to change to sole trader then hopefully I'll be alright
So your PayPal and eBay accounts are already being run as business accounts?

For eBay that isnt too much of an issue. For PayPal, that really depends on the type of business account you have upgraded to

Bare in mind you can upgrade the PayPal account to a business account and keep it as a individual if you want. Personally this is what I do since I like the extra functionality of the business PayPal while keeping the simplicity of being an individual as far as PayPal are concerned.
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Default Re: PayPal may want PROOF of registration from companies house.

Ok problem is all my PayPal accounts are business PayPals as soon as I signed up I set them up as business.

On a premier PayPal account can you still select sole trader? I've always signed them up as business.
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Default Re: PayPal may want PROOF of registration from companies house.

Yes you can select sole trader on a premier PayPal, do this when lifting the receiving limit.
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Default Re: PayPal may want PROOF of registration from companies house.

Yes they are and my PayPal is just a business account and where it says type of business you have sole trader, individual business I selected individual business is this going to be a problem?

PayPal no what I'm selling as I have provided invoices to them.
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Default Re: PayPal may want PROOF of registration from companies house.

Yep you can mix and match as much as you want.

Business PayPal with sole trader / individual / Ltd
or
Premier PayPal with sole trader / individual / Ltd

Business PayPal is just a different type of interface. Its when you go down the route of being a business / premier PayPal and being a Ltd company that things get a bit tricky.

Quote:
Originally Posted by samspalace View Post
Yes they are and my PayPal is just a business account and where it says type of business you have sole trader, individual business I selected individual business is this going to be a problem?

PayPal no what I'm selling as I have provided invoices to them.
Choose individual to make things easier for you
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Default Re: PayPal may want PROOF of registration from companies house.

Receiving limit is lifted shall I change from business to premier account then?
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Default Re: PayPal may want PROOF of registration from companies house.

James do you have a business PayPal account selected as individual business as this has always been the easiest way of setting it up for me.
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  #15  
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Default Re: PayPal may want PROOF of registration from companies house.

I open the account as a premier account, then remove the EU limits then upgrade to a business PayPal while keeping it as an individual account.

Works a treat for me personally

I am not sure you can go from being a business PayPal back to a premier PayPal to be honest (I could be wrong though?). If you like the business PayPal interface stick with that!
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Default Re: PayPal may want PROOF of registration from companies house.

Yes I do like it have a weight lifted off my shoulders now as my invoices we're accepted so at least PayPal know what I'm selling.
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  #17  
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Default Re: PayPal may want PROOF of registration from companies house.

Sounds like a good account then! Treat it well
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