Forum

Lifting the £1800 / 200 items transactions limit.
 

Hi

Can anyone shed some light please.
I have been thinking of the process of lifting the £1800 limit and have some queries/concerns.

As I understand it the Tax man has his hand in this rule. Your details are passed onto the above - who do what with it?
You are stealth - yes.
Your bank details are true - yes.

So, when the inevitable does happen, (your details are passed on to gov), and they follow the trail to your bank acc - will they inform pp that the pp, eb account holder's details do not match the bank acc?

Also, will the tax man contact you (the real account holder - linked by your bank) before you get to the £6000 mark?

This is bothering me as I dont really wanna run 10 seperate accounts all under the £1800 mark, I would prefer to go legit in that respect (as long as the stealth acc's are successful that is) with a couple of accounts, create shops and try to build them up.

Many Thanks in advance for any replies

where did you hear your details were passed to the tax man and then taxman contacts pp and your bank? its not the case.

Yeah im also wondering this - why do you think removing the limit means they pass details onto the tax man?

Got to admit - had me making a mess in my pants for a minute!!:eek:

Bunny, take another look at them notes :thumb:

hi

i did read that pp have been in cohoots with the gov somewhere - im going to backtrack and try to find the link.

GrannyTranny - im sorry for scaring you lol

Anyway I do hope i'm am wrong (yet again lol).:doh:

hi

found it

http://tamebay.com/2008/08/paypal-to...to-taxman.html

bit of a worry to be honest - options are to operate many stealths under the limits.

or be upfront with taxman with successful stealth accounts (Shops/power sellers)and hope they are happy with your money & don't inform pp or eb. :pry:

Gulp!!!:eek: I'm glad I'm poor and don't earn anything!!!:D

ok, yes in the US if you earn over a certain amount there is a law in place, I think a US forumer needs to cover that one here, Ive seen it discussed...

In UK nothing like that is happening. The only link to taxman can be your bank reporting it. It would need to be a substantial amount, and most stealthers have spread their sales on different eb with a couple of different bank accounts with different banks. Honestly if you earn over the UK tax limit on just one bank account, you need to pay your tax.

I for one do not and probably will never have this problem....

"taxman already spidering auctions" :spy:

hi!

i think i read that they are targeting (UK) power sellers.

im ok with paying tax as long as the tax man does'nt bring that valuable eb account down.