LTD Company for stealth accounts

[seller7]

Hi everyone, I want to open a LTD company. I wondering is this the best way for me to pay tax on stealth accounts? (Also to protect my other assets) My plan is to open a ltd business bank account with 5 saving accounts. Then have my money from my stealth paypals go into my savers, then transfer to my main ltd bank account.

So I get taxed on the money that goes into my LTD current account but the current account won't be attached to a stealth paypal. only the savers.

Or will this not work? Money that goes into savers show as paypal, however money that will go into my main current account will show (transfer from Savers) Will hmrc want to see all accounts or just money going in and out of my main ltd current.

I'm just wondering how most people do it with various stealths, any info would be great. Thanks

[rsot]

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

@OP, you're in good hands with tinsoldier

[seller7]

Originally Posted by tinsoldier

Get a Chartered Accountant to manage it all and HMRC will never trouble you. As long as your accounts are submitted correctly, the correct amount of tax paid then they couldn't care less how you manage your monies.

I do something similar and the money spent on a good accountant is money well spent.

Great, I will look into this. So they won't need to see my paypal accounts then? I was just a bit worried because the names won't match.

So when I go to the chartered accountant I want to be sure on how to explain it. I think I will just say that I have money going into several savings accounts due to different ebay a/c's as I would like to keep the categories separate.

From there I will send all money coming into savers straight into the main ltd current account. Is there anything else I need to keep in mind before approaching an accountant? Thanks again for the help.

[HeliumMonkey]

Hi just wondering which Business Bank allows you to create multiple savings account? Sounds really good

[Pandoras_box]

Originally Posted by HeliumMonkey

Hi just wondering which Business Bank allows you to create multiple savings account? Sounds really good

Not a good idea.

Someday, your savings account(s) which you use to take in money from stealth PayPal accounts may invite scrutiny. 'If it dies, it dies' but you don't want collateral damage to your business account - so better to domicile your business bank account that elsewhere.