Advice regarding online income for (almost) 17 year old

awara

If you think it is good business and your son being a minor it would be the best option to setup a company and open business account and use that to open PayPal account. problem solved. I am sure your accountant will help you with the rest.

Mistral001

Maybe this idea might be considered too quaint or old-fashioned. What about your son making an appointment with his bank manager? They are supposed to know something about transferring money and I do not think they charge for any advice they give. (I have no connections with banks other as a customer BTW)

beansOnToast_3

First, a big congratulations to you son.

This is what I would do:
1. Get your son has his own bank account. Many high street banks allow you to open an account at your son's age.
2. If your son is using his own website, use a different payment provider. I'd recommend Stripe (stripe.com/gb). Your son can enter into an agreement with them if he's under 18 as long as you consent to him entering into that agreement (see point 7 of the terms (stripe.com/gb/legal)). The benefit of Stripe is that they are generally cheaper than Paypal and it sounds like he's tech savvy enough to implement the Stripe Checkout solution.
3. There is no need to register a business right now, he can proceed as an individual / sole trader. Just keep his money from the proceeds of his stickers in that separate account away from your own. Teach him to keep good records of sales and expenses. If he's earned less than approx £5,500 in the year he shouldn't need to pay any NI and if he's earned less than £11,000 he shouldn't need to pay income tax. If, as I hope, at the end of the tax year things have gone well and he's earned more than that, celebrate, pay an accountant a few hundred pounds to help him do a self assessment tax return and pay any tax owed.