The Wholesale Forums

[Gray123]

Hi, ive just tried looking for a post i saw on this subject but whatdo i need to do to trade as a business on ebay? Do i need to let paypal know? and how? and how do i go about telling the taxman if this is what i need to do??

I already have an ebay account, can i just upgrade this account??

Thanks
Gray

[uhafmail]

You can upgrade the account by clicking on My account on the left hand side in My Ebay.

You can upgrade your paypal account to a business account.

And you will need to regsiter with HMRC as self employed.

[geosamm]

and keep your books in an efficient manner

[Gray123]

ok thanks for the help. But can i be self employed and have another job??

Gray

[uhafmail]

Yes. It is probably easier to ring HMRC ask what you need to do: 08459154515

[Gray123]

Thanks for all your help. One last thing (i think,) Do i need to set up a business account with a bank?

[jackking]

Originally Posted by Gray123

Thanks for all your help. One last thing (i think,) Do i need to set up a business account with a bank?

If you want to withdraw, I think you'd better use a international Bank accout which can accept GBP,USD etc

[Andy777]

Originally Posted by Gray123

Thanks for all your help. One last thing (i think,) Do i need to set up a business account with a bank?

No, you don't have to!

But it's always easier to keep your records (for accounting) if you have a separate account. So you could just open a new personal account for eBay business.

[uhafmail]

Yes i agree with Andy - a seperate account is the best way to go about it but it does not need to be a business one.

[Gamejelly]

That's one thing I've always said myself - what's the point in paying the bank for a business account when a seperate personal account is suffice. The only difference I see is that the account can be called your company name.