How to set up properly for Taxes!

[Nipper]

Hello everyone,

Im from the UK and I want to understand how to set up properly to pay for income taxes.

I have 4 stealth accounts and they are in my family and friends name but all the money goes to my personal bank account. I dont want them to get their own income tax effected!

What is the best way to handle taxes for each accounts?

Do I set up 1 company in my name and declare tax through there or do I set up company for each account?

How does it work if a ebay account gets VAT registered?

I am confused and dont want them or me to get chased by the boogie tax man

[Arkham_Joker]

Stealth means accounts in stealth details, you said your accounts are in family and friends names?

[Nipper]

Originally Posted by Arkham_Joker

Stealth means accounts in stealth details, you said your accounts are in family and friends names?

The book still calls that stealth accounts? correct me if I am wrong?

Regardless, help me how to handle taxes!

[Arkham_Joker]

Originally Posted by Nipper

The book still calls that stealth accounts? correct me if I am wrong?

Regardless, help me how to handle taxes!

I was only asking, if you didnt want the hassle of being chased by the tax man then i just didnt get why use real names from friends and family is all.

[13obby]

Simple really you pay taxes on your total turnover from all your accounts regardless of who’s names there on you can either pay it as self assessment as a sole trader or via ltd company I would suggest speaking to an accountant and then moving forward.

[Allan878]

To tell the truth, the best way that I see in your position is to handle taxes for each account apart. Indeed, each person must be responsible for his own taxes. A year ago, when I had the necessity, I was looking for tax debt relief. Finally, I found a company that helps in such a situation. But, honestly, I consider that it is better to entrust such questions, not to ordinary people from the Internet, but apply directly to professionals who know the law inside and can help you not unfounded. More than that, there are many pitfalls that you should be aware of in order not to aggravate the situation.

[rsot]

Originally Posted by Allan878

To tell the truth, the best way that I see in your position is to handle taxes for each account apart. Indeed, each person must be responsible for his own taxes. A year ago, when I had the necessity, I was looking for tax debt relief. Finally, I found a company that helps in such a situation. But, honestly, I consider that it is better to entrust such questions, not to ordinary people from the Internet, but apply directly to professionals who know the law inside and can help you not unfounded. More than that, there are many pitfalls that you should be aware of in order not to aggravate the situation.

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

YouTube (Short URL)

YouTube (Short URL)

Good thread search skills - the thread is a bit dated though

[Hank]

Originally Posted by rsot

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

http://youtu.be/TLcuTISVs3s

Good thread search skills - the thread is a bit dated though

His only 'skill' was digging out any old thread on the assumption his spamming would go unnoticed.

Instead of welcoming them, why not simply let the thread fall off the bottom of the page, they're clearly not here for the purpose this forum is intended.