Paypal account under a different name

Poshsalt

Hi

I have multi businesses.

So to keep things simple I use one paypal which is mine to sell a food manufacturing product.

An use my girlfreinds paypal to collect money for items (computerware shop). But its title is Nails and Hair as I forgot to change it to Hardware.

I can only have 1 account and my gf can only have 1 paypal.

The money that is from the gf computerware/Nails and Hair is then transfered to my account which is called computerware business account.

She doesnt use the paypal for Nails and Hair its just titled that and we forgot to change the title.

Someone has complained that I;m using a different name under the computerware, can I get into trouble with say HMRC? I can't see away around it as I can only have 1 paypal account.

molerat

You can have several Paypal accounts but each must have a separate e-mail address.  The problem you have at the moment is using someone else's Paypal account for your business.  That is where HMRC could possibly have a problem.

Poshsalt

You can only have 1 personal and 1 business.

Poshsalt

molerat said:

You can have several Paypal accounts but each must have a separate e-mail address.  The problem you have at the moment is using someone else's Paypal account for your business.  That is where HMRC could possibly have a problem.

What happens if you have 2 PayPal accounts?

You are not permitted to have multiple personal PayPal Accounts, you can have one Business Account and one personal account. PayPal has an online security system that may limit your PayPal Accounts should you have multiples. You may have up to 8 email addresses on your personal or Business PayPal Account.

tightauldgit

Provided the money is all accounted for and declared I don't think HMRC would have too many concerns - other than it maybe looking like you are trying to hide income. My bigger concern would be the legal flow of money here. Are you a Ltd company or a sole trader? 

I believe there is a legal requirement for all invoices and receipts to show the correct business name and address so that's your first problem potentially. 

Secondly as a customer I would be worried that I am paying your girlfriend for services of your company - what if you don't deliver? Who is my contract with? Do I sue your girlfriend for non-delivery? 

From your side, you should be aware that when that money goes into your gf's account it's hers. What if she decides to just keep it? 

If it's not illegal it's certainly a mess and I'd be sorting it out ASAP.

molerat

Poshsalt said:

molerat said:

You can have several Paypal accounts but each must have a separate e-mail address.  The problem you have at the moment is using someone else's Paypal account for your business.  That is where HMRC could possibly have a problem.

What happens if you have 2 PayPal accounts?

You are not permitted to have multiple personal PayPal Accounts, you can have one Business Account and one personal account. PayPal has an online security system that may limit your PayPal Accounts should you have multiples. You may have up to 8 email addresses on your personal or Business PayPal Account.

That rule obviously wasn't there when I opened my 2 many many years ago.  Never had a problem and the one I don't use very much keeps getting the "spend and we will give you £5" offers.