3 {{ upvoteCount | shortNum }}
3 {{ upvoteCount | shortNum }}

Need some info on Paypal & Tax Issues in The UK...

by Kunle Olomofe
2 replies
Hi guys,

A friend of mine I told about Paypal wants to set up with Paypal as a business in the UK for the first time but he's concerned about tax issues using Paypal to collect payments. Can anyone share their experience with this? Is there anything he needs to do before set up and after once he starts getting paid into the account and withdrawing funds etc?

Any info is appreciated. Thanks.

Kunle
#info #issues #paypal #tax
  • Profile picture of the author Danny Cutts
    Just treat as you would any other payment....

    I do...

    Customer pays you £20 £1 of that is fees ie banking fees and the rest is profit or whatever :-)

    They should really speak to an accountant though
    Signature
    Come and See me on Facebook... Come and See me at my blog...
    {{ DiscussionBoard.errors[9102918].message }}
    • Profile picture of the author Kunle Olomofe
      Originally Posted by Danny Cutts View Post

      Just treat as you would any other payment....

      I do...

      Customer pays you £20 £1 of that is fees ie banking fees and the rest is profit or whatever :-)

      They should really speak to an accountant though
      Thanks Danny that's what I figured since I used Paypal pretty much the same way you outlined while I was living in the UK some years ago. I'll take your advice and suggest he speak to a professional as well.

      Cheers!
      Signature
      Celebrity Marketing Formula - How To Quickly Become A Celebrated Authority In ANY Industry/Niche... Coming Soon.
      {{ DiscussionBoard.errors[9102930].message }}

Trending Topics