Re: UK tax on stealth accounts
If I register as a sole trader, I will need to submit my profit/expenses. This will obviously include invoices for products, postage, ebay fees etc. Half of those invoices for postage and ebay fees will not be in my name, how could I submit these as expenses? Also, a little advice on declaring the full value of an item to customs during shipping from china. As i'm sure you're aware, china usually don't declare the full value of the items they ship to save you in import charges, this reduced cost is reflected on their invoice. Would it be better to fully declare the amount of the items to customs and pay the extra import charge "and make less profit on my tax return" or continue with the reduced import charges and "make more profit on my tax return' and pay additional income tax?
Appreciate any feedback, thank you.
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