Skip to main content

This is a new service – your feedback will help us to improve it.

Posted Sat, 08 Jun 2024 17:39:36 GMT by Aimad Q
Hello, I have questions regarding PayPal business account for my LTD UK company. First, I am a non-resident from Morocco so I can't open a physical bank account for my LTD which leads me to open a Wise bank account and PayPal Business Account for my business. The problem is PayPal no longer accepts money transfer services such as Wise, Payoneer, etc I asked them and they told me to have a Visa card from my local bank and link it to my account However, as this is a business I have 2 questions: 1/ Can I pay taxes and fees using Wise and PayPal to HMRC? 2/ If I retrieved cash from PayPal to my local Visa card, Is this withdrawn money considered 'untaxed income' and should I declare it in Self-Assessment tax return, or it is illegal to do that? Thanks in advance and please If you have more info regarding this subject for non-residents let me know.
Posted Wed, 12 Jun 2024 17:40:43 GMT by HMRC Admin 20
1. No as these are not bank accounts. see Pay your Self Assessment tax bill for details on how tp pay.  
2. It could be seen as a remittance - Paying tax on the remittance basis (Self Assessment helpsheet HS264)
Thank you.

You must be signed in to post in this forum.