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
quick Q
- Thread starter vxr12
- Start date
zivmaymon
Regular Member
- Apr 2, 2010
- 367
- 143
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.
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.
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
Newbie
- Nov 3, 2010
- 9
- 1
If you are talking about big amounts of money, then you should consider the alternatives.
If not, pay the tax
is not worth it
If not, pay the tax
is not worth itprofessional.guest
Newbie
- Nov 3, 2010
- 9
- 1
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.