Discussion in 'BlackHat Lounge' started by CashGrower007, Jan 10, 2011.
you are pretty much screwed up here. Either you provide all the documents and lift the limit, or you simple get a new account or just call them and ask them to degrade it to verified personal account.
So, I have to open business to keep using their business account?
I can't use a personal account since it's limited.
What do all the big earners do?? They all have legit businesses setup?
what document they are asking ?
Quickly buy an old domain, that sounds like a business, or like a service provider (not local! but internet service provider) and then call them bout your limit and tlel them internet services dont have papers....... and u r done.
If I were you, I'd go and start a business, so it actually exists, but only on paper. Register as a self-employed person, go to your bank and open an account in business name. That will get you all the documents you need. If you're self-employed in the UK, you will be liable to pay national insurance contributions, which are pretty low (around 3 GBP per week). Just close the business a month or two later, if you don't want to keep paying the NICs. That way you'll have all the documents and still - no business. Also, PayPal very rarely recognizes forged documents, so if you're good at PhotoShop - have a shot.
They're asking for business document, since I'm registered for a PayPal business account.
I already have a site that provides social media services etc.. and they know where my payments are coming from.
Even if I get through paypal, wont I have problems with my bank? and won't HMRC know?
Anyway, if I were to open a business.. how will work? and How much tax do I pay?
Yeah, it's UK..
I just came across this site: http://www.companiesmadesimple.com/
Looks pretty good.
I want to know how much are taxes?
I did start a business when PayPal asked for documents. Just opened a bank as self-employed person, paid a couple of NI contributions and then closed the account/business stating that it didn't go well. The documents you'll get from your bank as well as your NIC payment receipts are enough for PayPal.
i dont think i had to pay anything to start up my sole prop. biz, just call the irs they wiLl mail u ur ein#
My Paypal is UK account, and a business account.
Why is there even a 1.9k limit? Don't you get to remove it when you verify your account with a Credit Card? I have no limit at all.
Call them, tell them that your site is an online service, they don't know that since your account was automatically LIMITED (not by them, but by the system they made).
This should solve the problem.
Cool.. but how do you get away with it from the government? How do you explain where the money comes from once the find out?
Oh, I'll see if that's the case. I'll send them an email.
Don't online e-commerce sites have to be registered?
well i dont think business accounts having any limit best option would be call them straight away business accounts holders having special support numbers u can find them in Contact pages ! calling is the best options to get things going !
Cashgrower, no e-commerce sites don't have to be registered with papers.
Lol, My paypal is business but I don't need to send them anything? Just add Credit Card to verify. Not sure what's wrong in UK.
Probably it's one of those "hidden" limits which trigger the automated limiting system and prompt you for papers.
Since you are in the UK, do what the guys above have suggested. Either go with the "online service" option or just register a dummy business and then close it.
So, what happens when the tax guys see your bank balance?
How do you explain your income?
Just say you earn 10k a month online.. don't you have to pay taxes?
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