Few paypal questions

Beany1210 · #1 12-10-2012

Hi guys

I am approaching my £1900 receiving limit and need to lift these, It just gives me a few options to click on
individual
sole trader
charity etc

Not sure which one is best, I am just selling loads of my old cds/dvds etc (have 100s) so I am individual but had to make ebay acc business to list more than 100 last month, I may also at some point have a go at running as business though as out of work at moment

so which should I choose? and will they ask for anything else ? all the others are ticked ie Add bank account/submit direct debit/confirm bank account
also I am verified and acc type is premier

The acc is in my name with small spelling difference and my addy is real, not really stealth, hoping they dont ask for docs as all I have is out of date passport as I dont drive and not been abroad for a few years

cheers

NoneOther · #2 12-10-2012

I think given the content of your post that you have answered your own question really.

If you are registered as a business on e/b then ideally that should be reflected in your p/p account.

As you are not a ltd co then you must be a sole trader, you cannot be an individual running a business.

Beany1210 · #3 12-10-2012

Thing is I am not a sole trader I am just selling loads of my old stuff I don't want as I need the money, all low value items ..well mostly but needs must

NoneOther · #4 12-10-2012

Then why on earth did you register your e/b account as a business?

Beany1210 · #5 12-10-2012

Quote:

Originally Posted by NoneOther

Then why on earth did you register your e/b account as a business?

Because I wanted to list more than 100 items and it said I couldn't unless I registered as business account
that doesn't make me a sole trader or a business etc apparently just means the ebay account is a business account so i can list more items

NoneOther · #6 12-10-2012

Eh! Sorry but it does make you a business.

Not only in the eyes of e/b but now also HMRC who trawl e/b looking for traders who are not declaring the extra income.

It's quite simple, if your not a business then you don't register as such.

Beany1210 · #7 12-10-2012

Not sure how selling things you already own can be classed as running a business, also on ebay it says having a business account does not mean you are not classed as being in business/sole trader when I looked as I didn't want to upgrade really.

its pretty ****ing stupid either way, they should go on £ coming in not just volume I only sell about 10% of listed items but nobody finds them unless you have a fair few on

bruceuk · #8 12-10-2012

They see it if your shifting over 100 items or at least trying to a month your a business .
Ive business and private accounts .
Downside to business accs all your info is viewable on every one of your listings ie business address etc.
But i found business accounts sell more items compared to identical private account but maybe thats just my products I dont know .
Registering with paypal as a business or sole trader is not a problem and as N O said your info needs to tie up .
A business ebay feeding a private individual pp does not look to good only down side is if it gets reviewed they will want to know where your stock come from but with growth comes challenges ..
And everyone loves a challenge ...

Callidus · #9 12-10-2012

bruceuk - its borderline, however NoneOther is correct, if HMRC who are trawling eBay do spot you selling over 100 items per month they would ask you to prove that the items you purchased were for personal use... i.e. receipts etc..

If you couldn't you wouldnt have a leg to stand on, so yes if your selling more than 100 items you are a business.

A business is quite simple - buying and selling and reselling for further profit

NoneOther · #10 12-10-2012

Your right, selling your own personal items is not classed as running a business.

However declaring yourself to be one makes it so.

Business accounts are for businesses, private accounts are for individuals.

e/b don't need to explain it any further, it's self explanatory.

And they do go on £'s coming in, that's what listing limits are all about, money and volume.

How many individuals have 100's of personal items to sell consistently on a monthly basis?

Callidus · #11 12-10-2012

Quote:

Originally Posted by NoneOther

How many individuals have 100's of personal items to sell consistently on a monthly basis?

Not many!!

Beany1210 · #12 12-10-2012

cheers guys for the info and insight, wish I sold 100s per month listed about 200 in total 2 months and sold about 50 (probably about 400 listings if you include relists) ave price is around £4 with a handfull of packs to get rid going for 40/50

so take it I am best registering my paypal as a sole trader even though I am not registered as a sole trader I am unemployed, would be pretty screwed if I had to live off my ebay money alone after fees and stuff its not much more than beer money

anyway main question is paypal, do they ask for docs etc when you try and get the receiving limits lifted as I have no passport mine ran out 3 years ago and I dont drive so have no ID like that other than bills and bank statements.

gah so much faffing about

NoneOther · #13 12-10-2012

Yes the will ask for photo ID and address verification documents i.e. utility bill

If you don't have them there are ways that they can be supplied.

PM a mod if you need help with this

Beany1210 · #14 12-10-2012

what do they accept other than passport/drivers licence? things like citizencards etc ?

bruceuk · #15 12-10-2012

None other has allready pointed you in the direction that will resolve your little issue

Stigger · #16 12-13-2012

Quote:

Originally Posted by Beany1210

Because I wanted to list more than 100 items and it said I couldn't unless I registered as business account
that doesn't make me a sole trader or a business etc apparently just means the ebay account is a business account so i can list more items

you can open an ebay account in personal details no problem.

There is nothing on ebay or hmrc that states , you have to be a business to open an eby business account.

Just becuase you sell something on an ebay business accoount does not make you a business.

i have eby business accounts attached to Personal PP accounts, Dont see the problem, in fact all i see is advantages.

If you are a business or not is for HRMC to decide if they ever look at you, and good luck explaining it away if they do.

You make the choice, you pay the price.

Beany1210 · #17 12-13-2012

Quote:

Originally Posted by TizWoz

you can open an ebay account in personal details no problem.

There is nothing on ebay or hmrc that states , you have to be a business to open an eby business account.

Just becuase you sell something on an ebay business accoount does not make you a business.

i have eby business accounts attached to Personal PP accounts, Dont see the problem, in fact all i see is advantages.

If you are a business or not is for HRMC to decide if they ever look at you, and good luck explaining it away if they do.

You make the choice, you pay the price.

Plan is to sell enough of my own collection (I have a lot) and build up some cash to maybe start up trading, at moment I am out of work used to have a business but got made bankrupt in 2008 as the arse fell out of the whole market and I was balls deep with loans etc, tried to get out of it myself but wasn't possible been in a pit of depression for 3/4 years and just trying to get myself out of a hole rather than sit on my arse

Anything HRMC or anyone else wants to throw at me, so be it I have dealt with worse and I aint doing nowt wrong anyway other than trying to get back on my feet

I have tried pm ing greenbean a few times but seems they are having problems with their messages, still a bit worried about not having a passport or drivers licensce
all paypal details are legit my addy etc so no probs with that kind of id bank statement etc, just photo id ..oh and no home phone number just a mobile

bruceuk · #18 12-13-2012

Well good on you for trying.
It can knock your confidence when a business fails and it does take time to recover both financially and mentally .
As long as you protect yourself from it happening again then the whole sad event was not in vain as you learned something.
I wouldnt get to hung up on the paperwork side of things just yet .
Just sell some stuff and make some money the issues can be resolved along the way .

Beany1210 · #19 12-13-2012

Quote:

Originally Posted by bruceuk

Well good on you for trying.
It can knock your confidence when a business fails and it does take time to recover both financially and mentally .
As long as you protect yourself from it happening again then the whole sad event was not in vain as you learned something.
I wouldnt get to hung up on the paperwork side of things just yet .
Just sell some stuff and make some money the issues can be resolved along the way .

cheers mate

thing is my £1900 limit is about £400 now and only 2 months in so its another 10 months till it re-sets so need to worry about that now

nightmare