Originally Posted by Cosworth Rallyesport
Originally Posted by rssteve
Originally Posted by Cosworth Rallyesport
if you are running a business why are you registerd as a private seller?the tax man will ripp you a new arsehole if your not carefull....
since when did you have to register on ebay as a business if you are. I have 2 user names on there, the first was before they introduced that option, and the second i am registered as private seller. I still pay tax for my business, i also don't have a business account as only having a turnover of 50k i see no point in paying to recieve cheques etc, so i use a current account. The tax man has no problems. You are supposed to have the registered address desplayed tho but i don't fancy putting my home address on ebay for anyone to see.
the inland revenue have been running a programme on ebay for two years now,i know a few lads who have had a rude awakening,two of which are currently doing 36 months and have lost houses.if your running a legitamate business get it registerd and above board,the days of hiding it are long gone,just friendly advise.
Don't mean nothing to the hmrc weather you are marked as business or not on ebay. Providing you are actually paying what you owe thats what matters. It even states this when you register on ebay. And any program they have been running on ebay is about as good as it was 5 years ago. You only have to go onto the ebay forums and ask the regular posters on there. Id suggest these lads were probably reported by someone else if what you say is true. Still they must have been big big time to get 36 months and lost there houses. Usually they make you pay back say 150% of what you should have paid.
