16 year old UK resident being paid in dollars - how?
Cuthbert23
Posts: 6 Forumite
My 16 year old son has just been given an amazing job opportunity and is about to be paid to play computer games. However, he is going to be paid in US dollars because later in the year he will move to the USA for a few months. He is not old enough to have a currency account or credit card. What is the best way for him to receive payment? At the moment, he gets paid any winnings through Paypal but I don't know if that is the best way to receive the much higher amount that his wages will be. Thanks.
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What are the options for the money to be sent to him?
Is it required to be paid to him personally, to an account in his name for example, or could it be paid to yourself or a currency broker instead?Evolution, not revolution0 -
It could be paid to me, but HMRC have said that it would be taxed at my income tax rate rather than his. Also, he will need to have access to at least some of it from the USA once he is living there.0
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Cuthbert23 wrote: »It could be paid to me, but HMRC have said that it would be taxed at my income tax rate rather than his. Also, he will need to have access to at least some of it from the USA once he is living there.
Nonsense. They tax based on the employee (PAYE), not based on the name on the bank account.
A 16 year old can have a bank account, I had one for my part time employment at 16.
Can you even get a work USA visa at 16 for that part of the role? Also as a 16 year old he is limited in the hours he can work.
Edit: you list they get paid by PayPal and you state winnings. Is this a job or some sort of competition/gambling and you need to be 18 to use a PayPal account. It will get locked if PayPal find out and access to funds in the account could be restricted.0 -
Completely unbelievable story.0
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Thank you for the helpful advice, Stevenhp1987. I'll look into Paypal straightaway.
Times are changing, camelot1971. I couldn't have predicted even a few months ago that this would happen but the world of eSports is moving on fast.0 -
Cuthbert23 wrote: »Thank you for the helpful advice, Stevenhp1987. I'll look into Paypal straightaway.
Times are changing, camelot1971. I couldn't have predicted even a few months ago that this would happen but the world of eSports is moving on fast.
I'll humour you.
You totally ignored the HMRC point that steven mentioned.
Getting a visa to work in the US is very hard. Why would a 16 year old from the UK get a visa for something an American could do? I should know - I have lived and worked in the US.
Why would a 16 year old even need to be based in the US if it is "e-sports".
A 16 year old can easily open a bank account and have a debit card.
So, sorry, but I just don't believe you.0 -
Cuthbert23 wrote: »My 16 year old son has just been given an amazing job opportunity and is about to be paid to play computer games [...] he gets paid any winnings through Paypal
So is he being paid or is he winning money?
It sounds a bit too good to be true TBH.0 -
Thank you so much for humouring me, camelot1971. If I knew you better, I would give you proof that I am telling the truth but, as it is, you will just have to learn to trust my honesty here. Your cynicism is rather distracting from me receiving potentially helpful advice and I thank those posters who have provided such advice.
I have had conflicting advice about the tax situation and was surprised by what the HMRC advice line told me. I will be looking further into this.
Several teenagers from Europe will be moving to the USA for this eSports competition later in the year and a big US games manufacturer is organising visas for them. They want the very best players to participate to help them to market their game worldwide. These days, not all eSports competitions take place purely online and members of my son's team have recently attended a competition in Texas. Apparently, there are people who like to go to watch these competitions live. I can't understand it myself but there is a growing market for these things.
My son already has a bank account and a debit card but I want to know the most efficient way for him to receive a monthly salary in dollars when he is currently based in the UK.
Pound, he has been receiving winnings as a solo player but, now that he has joined a professional team, he is also being paid a monthly wage.0 -
Cuthbert23, I'm cynical as well, not about you, but about the very existence of the job. I hope you've done a very thorough due diligence on this company before accepting monies from them for such a job, so many of these stories end up in CIFAS markers at the very least.
ETA: Google Money-muling0 -
Thank you, pmduk, for your concern, but you don't need to worry. We have researched and received a lot of background knowledge about this role, have met the team owner, as well as people already playing for the team, and have had a legal expert look at the contract. Again, if this was not a public forum, I could share more information with you to reassure you.0
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