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Ebay have asked I change my account to a business account

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  • buglawton
    buglawton Posts: 9,246 Forumite
    Part of the Furniture 1,000 Posts Name Dropper
    You will be taxed on total income from all businesses minus total expenses on all businesses. The online tax submission makes the process quite straightforward.
  • Pennywise
    Pennywise Posts: 13,468 Forumite
    Part of the Furniture 10,000 Posts Name Dropper
    For the tax return, there's no difference between self-employment, sole trader or a business - it all means the same, the terms are inter-changeable.

    It's only if your "business" isn't solely you, i.e. it's a partnership with someone else, or if your "business" is a limited company, that it won't be classed as "self employment" on your tax return.
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