PayPal UK equivalent reporting limits compared to PayPal USA

[ZoeMay]

WOW

Didn't realise that PayPal had a forum until just now!

I'm posting to ask can any forum member point me to where I can find the UK answer to this question?

I wish to begin selling online and realise that I'm very green with the ins and outs of UK tax law as a seller.  I've learnt so far that in the USA,  PayPal is required to report to the Internal Revenue Service, gross payments received by sellers who receive over $20,000 in gross payment volume AND over 200 separate payments in a calendar year.  I found this info here  on this  USA PayPal webpage

Sadly, I can't locate the PayPal UK webpage equivalent. I've emailed PayPal for assistance with the UK equivalent limits comapared to USA and yet to get a response

Any pointers where I can get this information or personal experience answers appreciated!

Regards

ZoeMay
 

[snowshoe · Accepted solution]

Check out this info, it's not from PayPal but, it appears to have some of the info you're interested in:

http://www.ehow.co.uk/how_6177784_declare-paypal-income.html

[ZoeMay]

Hi Snowshoe

Thanks for replying

and

even more thanks for that recommended webpage info!

Yes, it's not from PayPal but the step by step content was very useful and was easily adapted, in parts, for UK wording. I even followed along from inside my PayPal account with screenshots, printed and filed away for future reference.

As I’m sure you’re aware, in UK the tax year starts in Apr and this year (2013) there’s a minimum  threshold of £79,000.  Will be very, very happy if  turnover for me exceeds that figure to show the UK taxman in 2014!

You’re a star Snowshoe 

Regards

ZoeMay