PayPal Limits.

Discussion in 'Growing and Managing a Business' started by JPM, Aug 18, 2011.

  1. JPM

    JPM
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    Hello folks.

    I just have a couple of queries regarding paypal.

    I am sending and receiving quite large amounts, and will need to remove the limits from my paypal account which means registering with them as a sole proprietor. I assume this means I should also register for tax and vat? (i am in Ireland)

    Do you know if this will impact my salary from my full-time job?
     
  2. GekiDan

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    Have you already verified your Paypal account?
     
  3. JPM

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    Yes I have.
     
  4. txprice

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    Don't worry . If your funds are legitimate income. You just contact Paypal,then explain your business model and upload the proofs that paypal need ,your account will be normal soon. Good luck
     
  5. JPM

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    I am in the process of sending the required info' but that wasn't my question to be honest.
     
  6. GekiDan

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    What do you mean by "quite large amounts"? Like thousands of dollars per transaction?
     
  7. sigma

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    You supported to include the tax and vat since this is considered as your income as well. If you are saying the tax, then the answer is yes, your tax will be higher due to the tax is based on your full time income + your online income
    By the way, many people are hiring their online income if it is not much
     
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  8. JPM

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    Thanks for info' Sigma. Though I am not sure what you mean by this?
     
  9. sigma

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    Ops. Another typo, that's why I don't really like to use my iPhone to posting....lol
    I mean hiding, not hiring :p
    Especially from those country not too straight on the income tax
     

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