Finance bill 2016

[Layer Cake]

As some of you probably know the Finance Bill getting put through this week includes powers for HMRC to get data off Paypal and other ewallet holders

There is a suggestion they'll do this en mass

Say if you had an account in an employees name, all money has gone through the business and they are employed through your books what would you do? The account is no longer needed and it wasn't anything to do with ebay, I was thinking of adding the Ltd company details to this Paypal account so if HMRC do get hold of the details they will see the Company name and VAT reg details?

I would't like them to be harrassed about this money if HMRC think it is theirs.

[JamesNorth101]

Best person to talk to is an accountant

[Kiroshi]

Its good to call HMRC as well. Tell the truth as they dont care about eBay Stealth.

From my experience HMRC care about who is spending the money, so if you have a simple data trail leading to your own account WITHOUT the named person on the account you are fine.

This info has been given to me directly from calling them and telling them exactly what I do.