eBay, PayPal and UK TAXMAN!

[dyfz16]

Hello guys and girls, I have a very specific question regarding selling on ebay and not paying tax ofcourse.

For about 4 years now I have been averaging £40,000-£50,000 turnover per year in my paypal account and about £13,000-£17,000 profit (as in actual withdrawals form my paypal into my bank account per year) which is not a bad bonus when I add it to my dayjob which is not related to ebay and for which I have to pay taxes ofcourse. I have not been spotted by taxman yet as all items I sell on ebay are USED and I use over 10 accounts to keep the selling activity low, below the 60 items per month as it flags up on ebay and forces you to upgrade to business account. Ofcourse all my accounts are private.

So I am interested, does anybody know how exactly does UK TAXMAN eventually catches you?

[GrannyT]

The UK taxman takes a very active interest in Ebay - that's the down side

On the upside because of cutbacks unless you are very unlucky they are unlikely to investigate anything under a £100K tax loss. They have to show their masters that there is a reasonable chance of getting the money.

The VAT man is a different proposition - do NOT mess with him - he really bites!!

Having said that perhaps you should get a good accountant and pay some tax - at least you will sleep easy. David Cameron needs the dough so he keeps telling us

[LongMan]

I was just reading this article the other day regarding this subject:

Why HMRC “refuses to discuss” eBay, web-robots and your personal information | BitterWallet

I wonder how they actually do it.

[dyfz16]

Thank you for your input, it is much appreciate and does back up my existing thoughts and info that I gathered on this subject.

My stealth is already not too bad as I never had problems. One piece of advise for anyone I have is never to list over 60 items from one account in a period of 1 month. As that will flag your account up as operating as a business. That happened to one of mine and everything I tried, ebay did not want to know, to continue listing must upgrade to business account.

However upgrading to business I was told by few people highlights and exposes you a lot more than if you are a private account.

[Stigger]

Originally Posted by dyfz16

However upgrading to business I was told by few people highlights and exposes you a lot more than if you are a private account.

If i was you i would sit down and think about that one mate, who the hell told you that, tut.

Maybe cause I'm a pot head i think about things allot deeper but i would say its the opposite to that .

[GreenBean]

I have a really SPECIFIC answer.

Forum does not DO tax advice.

That is done by a professional and beyond our remit.

You earn money, you pay TAXES.

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