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HELP!!!! Bank Account Frozen / No-ops
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The main activity? What about the rest? Despite my questions you don't have to justify or explain anything here. Only you (and HMRC!) know if you have not declared your full earnings and that's entirely between you and them if its the case. If its not the case then you don't need to worry about it do you!
I haven't declared anything before 2012/13 as I wasn't sure I needed to as it was only a small amount of money but having read up on it last night and today it appears I ought to have done....whoops!!
That to 1 side though, would they not have contacted me to say "you owe us tax" rather than doing this??0 -
I haven't declared anything before 2012/13 as I wasn't sure I needed to as it was only a small amount of money but having read up on it last night and today it appears I ought to have done....whoops!!
That to 1 side though, would they not have contacted me to say "you owe us tax" rather than doing this??
Not necessarily. I will say right now, before people pile on and spank you in text for trading and not declaring tax, I am not about to do that to you. I have been reading up on tax matters in the past eight months, quite heavily.
I determined I was not a trader when I sold off some of my things, but realised at the same time that there were a great many people that have started a sideline, that has turned into a business. You are not the first and you wont be the last (if this is what it is).
They would probably not contact you about it as they would want to interview you about it, and the more you know, the less likely they can catch you out at interview.
Everything I have read online indicates that you should not ever lie to the HMRC, you are likely to be asked to make a "prompted disclosure".
Remember, they will have all bank and paypal and eBay details. I don't know if the Paypal is still accessible as you have to draw funds into another account or spend them, you cannot just walk up to a counter and take money out. Someone else will know.
First things first...
HMRC page on determining whether trader or private seller:
http://www.hmrc.gov.uk/guidance/selling/index.htm
HMRC video, trader or selling things off:
https://www.youtube.com/watch?v=MYgCctGY_Ug&list=UUX03s8aGilPqvp992meZd6w&index=24
Adrian Huston, fantastically helpful video about this subject:
https://www.youtube.com/watch?v=DCvDPGxBU5I
Did you receive one of the 32,500 letters referred to in this Guardian news report?
http://www.guardian.co.uk/money/2012/may/01/ebay-traders-hmrc-tax-spotlight
Daily Mail get excited (they always get excited, even when Jordan buys a pair of shoes): http://www.dailymail.co.uk/news/article-2143972/Cracking-internet-sales-HMRC-hunt-Ebays-biggest-tax-dodgers.html
It may not be that you are trading or that this is the reason, but we may as well all have a look at this subject.No debts. No credit cards. No store cards. No mortgage. No CCJs. High credit rating intact. Living frugally. Want to start business soon. Trying to keep head above water; while standing on own feet; staying within the law; and not falling into debt. Looking to raise income, who isn't?0 -
Good advice. I'll stay off here for a while as everytime I log in people have a different opinion.
Don't go! If everyone in a second guessing state with questions stayed off here, these boards would be pretty uneventful. If anyone tells you to stay off here because you are trying to work out what is going on, you can always reply with a big smiley emoticon and the following Pfffffft.No debts. No credit cards. No store cards. No mortgage. No CCJs. High credit rating intact. Living frugally. Want to start business soon. Trying to keep head above water; while standing on own feet; staying within the law; and not falling into debt. Looking to raise income, who isn't?0 -
Trying to think what you should have notified them of and how. I think if you earn a bit, you can put it in the "other" section of a tax return and tell them, but if it is a lot of money they should have been informed as it counts as self-employment and they want to be told either a month, or three after you start that employment.
On Jan 31st this year, your tax return covering April 2011-April 2012 would have had to have been filed.
Don't know how much of that applies, whether you are also PAYE etc.No debts. No credit cards. No store cards. No mortgage. No CCJs. High credit rating intact. Living frugally. Want to start business soon. Trying to keep head above water; while standing on own feet; staying within the law; and not falling into debt. Looking to raise income, who isn't?0 -
No-one has told them to go as far as I can see. But the second guessing can't be healthy for the OP if people can't give accurate answers. I appreciate the OP is worried but is a hundred different views from a bunch of strangers really going to help matters?!LurkerTurnedPoster wrote: »Don't go! If everyone in a second guessing state with questions stayed off here, these boards would be pretty uneventful. If anyone tells you to stay off here because you are trying to work out what is going on, you can always reply with a big smiley emoticon and the following Pfffffft.0 -
No-one has told them to go as far as I can see. But the second guessing can't be healthy for the OP if people can't give accurate answers. I appreciate the OP is worried but is a hundred different views from a bunch of strangers really going to help matters?!
Operative word in my post was "If" - lets go for a boring, I didn't say anyone did say that etc. etc.
So it is healthier to worry about something and not try to find out what is going on and not ask questions on a forum designed for asking questions? Interesting take you have there. Why would you come to a forum and advise against forum use?
P.s. Pfffft.No debts. No credit cards. No store cards. No mortgage. No CCJs. High credit rating intact. Living frugally. Want to start business soon. Trying to keep head above water; while standing on own feet; staying within the law; and not falling into debt. Looking to raise income, who isn't?0 -
Twist it however you want, what I said was right, even the OP agreed!LurkerTurnedPoster wrote: »Operative word in my post was "If" - lets go for a boring, I didn't say anyone did say that etc. etc.
So it is healthier to worry about something and not try to find out what is going on and not ask questions on a forum designed for asking questions? Interesting take you have there. Why would you come to a forum and advise against forum use?
P.s. Pfffft.0 -
Twist it however you want, what I said was right, even the OP agreed!
I could try but I doubt I could match your 2,300 posts to a forum that you don't advocate using. I hope the OP has gained something from this, such as realising that it is unlikely that it is a case of mistaken identity freeze, as that would have been cleared up with ID. xxNo debts. No credit cards. No store cards. No mortgage. No CCJs. High credit rating intact. Living frugally. Want to start business soon. Trying to keep head above water; while standing on own feet; staying within the law; and not falling into debt. Looking to raise income, who isn't?0
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