quick Q

[vxr12]

hey guys, just a quick 1. im from the uk and want to start selling on ebay. should i register as self employed? or just sell on ebay and get my hands on the money some other way than sending it to my bank account? if so how should i do this? keep my money on paypal? thanks

 

[zivmaymon]

Quick A:
Keeping the money on paypal is the best way to cashout if u don't wanna pay tax on it.How? once a year I go on a vacation ,last time was prague, before was cyprus.Open a bank account [tourist's] transfer the money there, withrough, and go back home after a day or 2.
But remember: Spend some money on yourself, don't be so cheap.Have fun bro.

 

[eBayMafia]

hey guys, just a quick 1. im from the uk and want to start selling on ebay. should i register as self employed? or just sell on ebay and get my hands on the money some other way than sending it to my bank account? if so how should i do this? keep my money on paypal? thanks

I'm not truly aware of the laws in the U.K., but generally you will want to pay your taxes as self employed, but I strongly recommend setting yourself up as a business entity as soon as the profit rolls in. If U.K. taxes work like the U.S., you will save money and be able to write off most losses.

 

[professional.guest]

If you are talking about big amounts of money, then you should consider the alternatives.
If not, pay the tax is not worth it

 

[professional.guest]

Quick A:
Keeping the money on paypal is the best way to cashout if u don't wanna pay tax on it.How? once a year I go on a vacation ,last time was prague, before was cyprus.Open a bank account [tourist's] transfer the money there, withrough, and go back home after a day or 2.
But remember: Spend some money on yourself, don't be so cheap.Have fun bro.

If you want to open a bank account in Prague, you must show them the work contract or the student papers.
I live in Czech Republic, so I know what i'm talking about.