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Declaring to hmrc
 

Hi everyone,

So ebay stealth has been a success. Made a couple of hundreds net profit last month which is really good for me so thank you so much!

I think I'm ready to declare to hmrc(even though I have to)

Do I just register as a self employed on the hmrc website and write my income so far?

I've managed to get a .csv file from Paypal of all my transactions. Will that be enough in terms of supplying documents?

Does it matter if it's from my stealth account? The only identification from the stealth account on the .csv file is the email address. They won't ask for anything more, right?

Thanks to anyone for answering these noob questions!

Re: Declaring to hmrc
 

Your going to need to talk to an accountant* about this.

Generally so long as HMRC get their cut then they are happy :)

Re: Declaring to hmrc
 

I daily talk to my ACCOUNT but my ACCOUNT does not want to talk to me..... damn that non speaking account :) X


(spelling mistakes in stealth cost dearly, be aware) X

Re: Declaring to hmrc
 

Spelling mistakes?

Re: Declaring to hmrc
 

Yes register as self employed on the HMRC website. You'll have to fill in a tax return every year stating things like income, expenses, net profit etc. While you're making a few hundred quid every month you won't have to pay any tax, but you still have to let HMRC know the figures. Try to do it yourself, you don't need an accountant as they'll cut nicely into your profits at this early stage. HMRC are on the end of the phone if you need any help atall, but be prepared to wait on hold a while .. Or dedicated forums on the net can be a useful place to get help.

Best of luck.

Re: Declaring to hmrc
 

Accountant.

Re: Declaring to hmrc
 

Financial professional consultation is in order