HMRC effects £1740 limit

[Felics]

How are people managing the new disclosures required by eBay when selling over £1740.

Is everyone now just declaring and using real details? If not how are you getting around withdrawing to another account?

[Freakzilla]

There's about 500 million threads about this on here.

[Felics]

Originally Posted by Freakzilla

There's about 500 million threads about this on here.

I couldn't find any that gave a clear answer. Happy to look again

[hotadvice]

just give ⊗⊗⊗⊗ details...chances are HMRC wont come back again if you are using ⊗⊗⊗⊗ details....use real details, theyll eventually come back ...

but with ⊗⊗⊗⊗, they may just contact ebay and let them know your details didnt match and youd be asked to provide again or potentially suspeneded.

Either ways, its not a biggie for stealthers

[Felics]

Originally Posted by hotadvice

just give ⊗⊗⊗⊗ details...chances are HMRC wont come back again if you are using ⊗⊗⊗⊗ details....use real details, theyll eventually come back ...

but with ⊗⊗⊗⊗, they may just contact ebay and let them know your details didnt match and youd be asked to provide again or potentially suspeneded.

Either ways, its not a biggie for stealthers

I don't think that's strictly true from what I've read. When HMRC realise the details don't match your real bank they'll investigate. They already have your details as you have to provide actual bank details from which they'll be able to get your real name (even if you give a ⊗⊗⊗⊗ one).

[james_112233]

Originally Posted by hotadvice

just give ⊗⊗⊗⊗ details...chances are HMRC wont come back again if you are using ⊗⊗⊗⊗ details....use real details, theyll eventually come back ...

but with ⊗⊗⊗⊗, they may just contact ebay and let them know your details didnt match and youd be asked to provide again or potentially suspeneded.

Either ways, its not a biggie for stealthers

If that's allowed and say for example ebay doesn't suspend those accounts and they keep actively selling. That means ebay are hiding accounts from authorities and not disclosing them so they're in the same boat as the stealthers.

In the long run, everyone has to go legit, there are no 2 ways about it.

[Freakzilla]

This is some of the worst advice I've ever seen on here!

Originally Posted by hotadvice

just give ⊗⊗⊗⊗ details...chances are HMRC wont come back again if you are using ⊗⊗⊗⊗ details....use real details, theyll eventually come back ...

but with ⊗⊗⊗⊗, they may just contact ebay and let them know your details didnt match and youd be asked to provide again or potentially suspeneded.

Either ways, its not a biggie for stealthers

[hotadvice]

alright lets hear your smart idea around generating an NI no for a fictitious name?

some of you just criticize without anyform of input...ill give you a year to respond back with something of use

[hotadvice]

Originally Posted by Felics

I don't think that's strictly true from what I've read. When HMRC realise the details don't match your real bank they'll investigate. They already have your details as you have to provide actual bank details from which they'll be able to get your real name (even if you give a ⊗⊗⊗⊗ one).

yes but this is on the presumption that your stealth account would live for a long time,the sooner people realise you only have a short while with your stealths...you'd treat them as such



All this selling at cute tiny prices, large quantites, browsing products to build cookies etc, the acc would still get suspended along the way, no matter what rules you follow. hmrc, mc099, whatever it is, your stealth is coming down eventually, so goodluck to people trying to set up actual businesses on stealth accounts.

[hotadvice]

Originally Posted by james_112233

If that's allowed and say for example ebay doesn't suspend those accounts and they keep actively selling. That means ebay are hiding accounts from authorities and not disclosing them so they're in the same boat as the stealthers.

In the long run, everyone has to go legit, there are no 2 ways about it.

theres no long run in this game....everything stealth is short run...

[murdered_by_ebay]

I would first be dealing with the most urgent problems which are the risk of suspension

HMRC is a long term risk for some people that may or may not come to fruition but suspensions are real and they are a threat here and now

and I find it to be quite funny how some people here complain about how they got suspended and that they need new accounts and at the same time they put concerns about tax implications of those accounts first

it is the same as with a soldier on the frontline where bullets fly above his head and artillery shells explode around him and he is concerned whether he will have enough money to pay his bills

[Felics]

Originally Posted by murdered_by_ebay

I would first be dealing with the most urgent problems which are the risk of suspension

HMRC is a long term risk for some people that may or may not come to fruition but suspensions are real and they are a threat here and now

and I find to be quite funny how some people here complaint about how they got suspended and that they need new accounts and at the same time they put concerns about tax implications of those accounts first

But it's not a long term risk. eBay now report transactions over £1740 to HMRC which means you'll be asked for a personal tax number etc etc. if you can provide that you'll be gone.

Suspension is relatively easy to navigate.

The issue is those who sell 10k + a year and now having to report is an issue

[murdered_by_ebay]

Originally Posted by Felics

But it's not a long term risk. eBay now report transactions over £1740 to HMRC which means you'll be asked for a personal tax number etc etc. if you can provide that you'll be gone.

Suspension is relatively easy to navigate.

The issue is those who sell 10k + a year and now having to report is an issue

I honestly can not take anyone seriously who claims that suspensions are easy to navigate

[hotadvice]

Originally Posted by Felics

But it's not a long term risk. eBay now report transactions over £1740 to HMRC which means you'll be asked for a personal tax number etc etc. if you can provide that you'll be gone.

Suspension is relatively easy to navigate.

The issue is those who sell 10k + a year and now having to report is an issue

suspension is not easy to navigate....the slightest thing can get you suspended...provide a random ni, as this is the only way around this and then HMRC may come back months down the line and youll get suspended.either ways, you ARE getting suspended permanently at some point

[murdered_by_ebay]

the small guys will not all be suspended , there are millions of sellers so small ones are not significant enough to be taken down

bigger sellers better watch out

[hotadvice]

whats your definition of small... if its 500 pounds a month guys...sure they can live as long as they like....their timeline will be determined by a drastic shift in selling patterns in the long run


i dont take ebay seriusly anymore

[Freakzilla]

There is no long term workaround to the NI with stealth. If you have a bank account attached to your ebay account and HMRC want to find out who you are they easily can.

Originally Posted by hotadvice

alright lets hear your smart idea around generating an NI no for a fictitious name?

some of you just criticize without anyform of input...ill give you a year to respond back with something of use

[WestHammer]

Has anyone had this happen yet?

I have around £35k in annual sales and not had any notifications as of yet.

[murdered_by_ebay]

Originally Posted by hotadvice

whats your definition of small... if its 500 pounds a month guys...sure they can live as long as they like....their timeline will be determined by a drastic shift in selling patterns in the long run


i dont take ebay seriusly anymore

with small I mean a few hundred to several thousand per month

[brucey]

EBay and HMRC are completely separate with this change, its a business interruption for ebay, they will provide HMRC with as little information as possible - account name/address and NI number for all account selling in excess of the £1700 limit- HMRC will then bang out a load of letters asking people to complete self assessment forms - scattergun approach.
Obviously a lot of these will be people selling own belongings and not eligible to pay tax, then those selling to make profit... its a numbers game and the end result will be A LOT of ebayers starting to pay tax.. if the name and address doesn't match the NI number then it will be a HMRC process on what they do - they can find you if flagged from your banking information

[Felics]

Originally Posted by brucey

EBay and HMRC are completely separate with this change, its a business interruption for ebay, they will provide HMRC with as little information as possible - account name/address and NI number for all account selling in excess of the £1700 limit- HMRC will then bang out a load of letters asking people to complete self assessment forms - scattergun approach.
Obviously a lot of these will be people selling own belongings and not eligible to pay tax, then those selling to make profit... its a numbers game and the end result will be A LOT of ebayers starting to pay tax.. if the name and address doesn't match the NI number then it will be a HMRC process on what they do - they can find you if flagged from your banking information

ebay will provide HMRC with exactly what they need to track down that person. i.e. if the NI number doesn't match, then even if it takes months for HMRC to get around to noticing, they will eventually and then that'll mean checking bank account details. This will note who the actual person is and there's no way of avoiding that.

[Felics]

Originally Posted by WestHammer

Has anyone had this happen yet?

I have around £35k in annual sales and not had any notifications as of yet.

It only came into effect recently and ebay will report from 1 Jan 2025 (if you've made sales >1740 in 2024. So if you've made £35k last year then expect some form of request from ebay soon.