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16 Year Old wanting to start a business
scorpianking02
Posts: 327 Forumite
Hello.
If a 17 year old wants to start a business (on ebay), what forms need to be filled in etc? What are the benefits of registering a business against buying and selling normally?
If a 17 year old wants to start a business (on ebay), what forms need to be filled in etc? What are the benefits of registering a business against buying and selling normally?
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Sorry I'm not 100% sure, I think you have to be 18 anyway...somebody else might be able to come along soon with a bit more info!Lightbulb Moment: Feb 2007 :idea:
Starting Debt:£4737.49
Ebay Sales: £154.40 Pigsback: £15.20 Coin Jar: £18.90 Savings: £212.12
Current Goal: Save £365 To Pay Off HFC by March 26th Goal To Date: £365.52 ~ Just waiting for paypal funds to clear
Next Goal: Save £200 extra to pay towards car loan by 31st March.
Proud To Be Dealing With My Debts!0 -
You need a bank account that can accpet direct debit, they will take fees via this and thats about it. Dont think theres an age thing. Get a paypal account setup to and youll be ready to go.Kind Regards
Bill0 -
A 16 year old can't open an account with ebay for either buying or selling.
You have to be 18. Sorry about this.
http://pages.ebay.co.uk/help/policies/identity-underage-users.html0 -
lifeisgood wrote:A 16 year old can't open an account with ebay for either buying or selling.
You have to be 18. Sorry about this.
http://pages.ebay.co.uk/help/policies/identity-underage-users.html
I've been a member since I was about 16-17 and so have loads other people I know.Come on you Irons0 -
eBay dont really check but make sure its ok with your parents
then get a bank account with a solo card like Natwest and register it with paypal and you are away!
What are you thinking of selling?0 -
What about taxes? For operating as a business you need to be considering taxes, many threads about this on the ebay board on MSE site.0
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Taxes, im not sure he is going to sell that much to pay tax.Kind Regards
Bill0 -
I assumed as it was to be a 'business' on ebay rather than selling normally, the 16yo would be buying things and selling them at a profit, that is a business and I thought there were taxes to be considered if they were aiming for it to be doing well.0
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WOW. What response. I'm 17 but I use my parent's account. Nearly got 100 feedback at 100%. I want to start something big so taxes might come into it but I want to know what the advantages of registering as a business are and if anything needs to be done differently as I'm under 18.0
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i would be interested in this information also as im 16 and looking to do exactly the same on my parents account (with permission of course
) Like what I said? click thanks!:rotfl: :rotfl:
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