Opened a Business account with eBay.

[sutab10]

Hi,

So guys I opened a Business account on eBay recently and I want to start selling some items, not much but a few just for extra money in the pocket. My question is would I have to register as self-employed and if not is there anyway the 'taxman' can find out I am running a business.

Also note the account is stealth so the account is not on my name and also not on my address.

[Stigger]

the items you have, you purchased/made intending to make a profit, in that case you should pay the tax on it no matter what Chanel you choose to sell it

If you go self employed and sell on stealth account just make the tax mans invoices in your trading entity.


About dodging that tax man, not recommended, not under the current climate.

[sutab10]

Originally Posted by TizWoz

the items you have, you purchased/made intending to make a profit, in that case you should pay the tax on it no matter what Chanel you choose to sell it

If you go self employed and sell on stealth account just make the tax mans invoices in your trading entity.


About dodging that tax man, not recommended, not under the current climate.

Thanks for the reply, I used to sell before on eBay a couple of years ago and I didn't pay any taxes

[Naz86]

Hi, Im also interested in some information in paying taxes i would like to run successfully without running into problems in the future, i currently have a personal verified stealth account limits removed with the intention to buy to sell for profit, can you please explain more on: should i upgrade ebay/paypal account to business account first then register self employed as a sole trader and when you say just make the tax mans invoices in your trading entity can you explain further it would be appreciated

[Obnoxio]

I have a buisiness account, no stealth and have over £30k pa going though Paypal. I also work full time.

The Taxman can blow me! Unless you are getting £100k in sales, it's unlikely that you'll ever get collared. You can change accounts each and every year; first in your name, another in your mothers, fathers, sisters, Shep the dog etc. Just change bank accounts too.

It's too much time and effort for the amount they MAY get back IF you were dodging them. Remember, when they investigate you, which is unlikely, they do not know you have done anything wrong. There are too many sellers to chose from before they get to you.

relax

[GrannyT]

Take my advise and stop posting posts like this on open forum. If you must discuss it take it to PM

Nobody knows who reads this forum

[cass]

For the sake of registering as a sole trader and doing a simple return with a simple set of accounts its not worth messing about.

You will lose sleep over this kind of thing you know.

Do it right, keep it straight, there may even be some good taxable benefits for you such as claiming for part of your mortgage costs, car, electrics. Its not ALL doom an gloom - granted mostly gloom but there are some up sides.