Question / Discussion Ebay business account. HMRC and PayPal.

nate99

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Hi. Considering eBay with a business bank account. Couple of quick questions:

1. What is required when you open a business bank account and do most of you get a separate PayPal for this?

2. What do HMRC need. What is the process with them?

3. £1000 trading allowance - Does this include Surveys/Task apps etc?

Thanks
 

Jon

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1) not sure I quite understand the question

2) From memory just some normal details about yourself + your national insurance number

3) From memory, yes it does
 
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Rs20033

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I can highly recommend the Starling Sole Trader Business Bank account. I had to fill in some business info like predicted turnover and business type I think - nothing too tricky. I didn't need anything specific I don't think, and they needed my ID too.

I have a business PayPal account too. If you are on Ebay Managed Payments then you might not need PayPal because they pay straight into your bank. I think the main advantage of the Business Paypal over personal, is you can get a PayPal Mastercard and spend straight from your paypal balance (and earn cashback too).
 
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