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Business account on PayPal

  • 19-08-2014 10:48pm
    #1
    rekcaks
    Registered Users, Registered Users 2 Posts: 92 ✭✭


    I have a small business venture at the moment. Its currently netting €640 a month profit. Must of my customers/clients pay by paypal(to my own private paypal account).

    Im thinking of setting up a Business account on Paypal but i want to know what the implications may be.

    I know its up to myself to file my own Tax returns etc.

    Do Paypal report to Revenue? I am currently employed as a PAYE employee.

    Any help would be great.


Comments

  • #2
    ei9go
    Registered Users, Registered Users 2 Posts: 1,035 ✭✭✭ei9go


    You need to sort this out because when your Paypal income exceeds about 6,000 Euro they will freeze your account and ask what business you are running.


  • #3
    rekcaks
    Registered Users, Registered Users 2 Posts: 92 ✭✭rekcaks


    ei9go wrote: »
    You need to sort this out because when your Paypal income exceeds about 6,000 Euro they will freeze your account and ask what business you are running.

    That happen my personal account a few years ago. I had to furnish the with photo I.D, Ultility bill and PPS as far i remember. I think this was all just to verify who i was though?


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