| Pandoras_box | 01-07-2020 04:20 PM |
Re: Ebay Tax
Quote:
Originally Posted by Tom_UK
(Post 1059890)
I started selling on ebay as a hobby couple of year back. Sales were vary low at the beginnig . I did this “On” and “Off” basis. But from last year , sales were very high although profit was very low. I contacted accountant to register a self trader and pay tax . The fee of accountant for self assessment from the back dated till today make no sense for me as profit was very low. And on top of that I am also scared of penalty imposed by HMRC.
I am planning to open a new ebay and PayPal account while registering as Sole trader from day one. My concern is will HMRC caught my previous sales of history on ebay and PayPal? Please advice.
|
If he charges you more than £300 as a sole trader, change your accountant.
If you've made over £85,000 gross but made little profit, immediately go LTD. Your corporation tax and NI should be under £500 and your accounting fees should be around £700 at entry-level.
If you have to expend up to or more than £1500 when you've made little or no profit after taking in £85k or more, break up with him as you would a clingy lover.
Go on People per hour and find an accountant that can save you money within the confines of what the law allows. | 
