Ebay & Paypal accounts for HMRC

[marva]

Hi ive got a stealth ebay and paypal account running for about 2 years now, And its going well, I wanted to know how can I declare the funds with HMRC with the account im running on my sisters name?. also ive got a online website which is VAT registered. can I use the same VAT number on the ebay account, I never used it on the old bannned account, how can I do my vat with this ebay name? which is not registered with HMRC, eg from a different source different to my online website business bank account? my turnover is less the 75k on ebay, roughly about 15k a year, Will this have any effect on my or sister? I hope this makes sense? any ideas or ways on how I can declare this?

[cass]

The account name has nothing to do with your HMRC declaration you just simply use the transactions in and out of the associated bank account and attach the data to your returns. It makes no odds if its in your name or not.

You could attach the Vat number but if you lose your sisters account then you can't use it again, maybe better to leave out the vat number unless you have to add it, sounds like your turnover won't require this. You can always stills end vat receipts to your customers if you wish.

As long as someone is declaring and paying tax on the income there won't be any repercussions for your sister.

[GreenBean]

You see a tax professional and arrange to do everything.

[rsot]

GB is correct - questions are beyond scope of the forum

[marva]

Originally Posted by cass

The account name has nothing to do with your HMRC declaration you just simply use the transactions in and out of the associated bank account and attach the data to your returns. It makes no odds if its in your name or not.

You could attach the Vat number but if you lose your sisters account then you can't use it again, maybe better to leave out the vat number unless you have to add it, sounds like your turnover won't require this. You can always stills end vat receipts to your customers if you wish.

As long as someone is declaring and paying tax on the income there won't be any repercussions for your sister.

Thanks, My plan is to add new bank account to paypal and transfer all the funds to that new account, Then transfer the money back into the business accountm using the VAT number on ebay