Stealth Accounts, Cash

[BigEbayer]

Basically what happens when you start making to much cash on ebay with Stealth accounts. Will the tax man not look into and if so how do I pay that stuff I don't mind dodging ebay but fines and prison is not for me.

[stealthybutnotwealthy]

I would think the same rules apply to stealth accounts as any other account.

I don't think the taxman would care about your stealth accounts.... just what you declare as profit.

[BigEbayer]

I like to think I will do something good with my life so I don't want the idea that something can come back to haunt me later on.

As your from the UK and make over £80000 you have to pay VAT and if you earn less what do you have to pay capital gains tax or income tax?

[rsot]

Want tax advice? Seek a professional - forum is just for making stealth accounts and such...not for the exact schema of dealing with taxes.

The point of stealth is to stay BELOW eb and pp radar

[JamesNorth101]

You pay VAT on a business income over £79,000 (but it then enables you to claim the VAT back on other things)

You really need to talk to an accountant about these issues.

[BigEbayer]

Plan is to stay under £79,000 and hopefully make around £60,000 in revenue and costs around £40,000, what will I have to pay, surely someone has made some good profits and thought about it.

[GreenBean]

Originally Posted by BigEbayer

Plan is to stay under £79,000 and hopefully make around £60,000 in revenue and costs around £40,000, what will I have to pay, surely someone has made some good profits and thought about it.

You see a tax professional.

You arrange your business to work in with HMRC, be the business stealth or otherwise,

Beyond forum remit to do tax advice