Paypal reached £1700 limit? Tax?
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I have have a money laundering message on paypal asking me to fill in steps in the resolution centre because I have "received a large amount in the last year".. I've had paypal 4 months..and been selling things/computer help jobs.. rapidly to save up for something this year, I havn't long figured out that its legal to include paypal income on tax forms if overall income is over 6.000 . which I am happy to do. but as the money i've had through paypal the beginning of this year ive already taken out, I can't afford to pay the tax from these months if i put it on the forms. I have finished saving up now and want to do things legally but i want to start things legally in about 3 months, Do you think i will be okay if i just leave the paypal info off my tax forms untill my finances are sorted out within a couple months? do paypal contact the taxman or do paypal have nothing to do with it and they dont know the difference as to whether youve paid taxes or not? Thanks.
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Answer:
I wouldn't worry if I were you ,as all banks have to take the taxes out of your interest before you have it, and I think that paypal is a bank so they will also have took your money out.
Tony W at Yahoo! Answers Visit the source
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