Is It True That After April 2021 Private Accounts Will Not Be Able To Receive Sales Proceeds?

AZ109
Contributor
Contributor

That's what it looks like from the latest email notification of changes to the user agreement.

 

Private Accounts will be restricted to receiving money via F&F and paying for goods and services.

 

To receive money in any other way, a Business Account will be required?

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4 REPLIES 4

sharpiemarker
Esteemed Advisor
Esteemed Advisor

@AZ109 

 

Well, perhaps for new personal accounts. But for existing personal accounts that in order to use the full features of the personal account (including selling, casually?) some further information needs to be verified. Or otherwise convert to a business account or open a business account if primarily/prolifically selling.

 

 


Kudos & Solved are greatly appreciated. 🙂
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AZ109
Contributor
Contributor

Thanks for replying although what you've written is more or less the same (and as vague) as the email notification.

Can you elaborate please? 

 

How can I verify further information when nowhere does the notification tell me what info. needs verifying or how to go about doing so?

I primarily use my paypal account to receive monies from sales because I'm 67 and down-sizing my collection and disposing of stuff stored forty years ago.  Rather than leave this chore to my relatives when I die.

Is paypal aware that this sort of sale of personal possessions is not regarded by UK Tax Collectors as a business and that by insisting that I declare myself as such can lead to complications?

So far as I'm aware, although I am registered as a private account, because all my selling is done through two on-line platforms with paypal integrated checkouts, I am paying in full what Paypal charges for commercial transactions and am in no way paying any less than I would if I re-registered as a business account.

Please advise.

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kernowlass
Esteemed Advisor
Esteemed Advisor

@AZ109 

 

How can we 'elaborate' when we have the same information that you do.

You have had good advice, if you want more then contact customer services.


Advice is voluntary.
Kudos / Solution appreciated.
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AZ109
Contributor
Contributor

I've had no useful advice at all, just a repeat of the uninformative email.

Have YOU ever tried ringing CS?

But thanks for what seems to be your usual arrogance and rudeness.

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