Opening UK current A/C while Irish Resident

[Penfold]

>>Opening UK current A/C while Irish Resident

Does anyone know if it's possible to open a UK current account while not a resident of UK ?
Reason I need to do this is I've been selling quite a few thin gs on eBay recently and getting payments in sterling using Paypal. I've now got over £500 in paypal , but the only way they'll let you withdraw it is to transfer to a UK current a/c in YOUR OWN NAME, hence I have to open an account.
I've asked them would they issue a cheque to me, pr make a transfer to a mates account in the UK but they say they can't do either of these.


Cheers

Penfold

 

[Elcato]

I think you probably only need an address in the UK but you will have to go in personally and open the account with the relevant documents. How about going over to your mate for a 'holiday' and open one while you're there. Of course you would have to declare this income when moving it from your UK account back to Ireland so I'm not sure if this is actually legal. If it isn't disregard my comments.

 

[daltonr]

Does selling junk on Ebay constitute taxable Income?

Trading I could understand, buying and selling for profit fair enough I could possibly see that, although I doubt people declare it. But clearing out the attic and selling it on Ebay or in a car boot sale, is that taxable as Income?

-Rd

 

[rory]

Hi,

Something else to consider...I believe that you are obliged to inform the Revenue if you open an overseas bank account. IIRC, there's a question to that effect on the annual tax return form.

Cheers,
Rory

 

[Sean]

Selling household goods

QUOTE:
"Does selling junk on Ebay constitute taxable Income?"

afaik, a person can sell sell up to a certain amount of household goods (i.e. goods from their house which they're getting rid of), and this is not considered a taxable income.

As long as you're simply getting rid of your own household goods, and not buying goods with the intention of selling them at a profit.

Maybe someone here might know how much someone can sell in a year, before it may become taxable. I think there is a certain figure. (I've a feeling it might be a few thousand, but don't quote me on it).

 

[Tommy]

Re: Selling household goods

Whether an activity is taxable depends totally on whether a trade is being carried on. Someone selling bric a brac and their own personal possessions is hardly likely to be trading unless they are actually buying quantities of goods for resale. The treatment of each case will depend on its own merits.

 

[Observer]

Re: Selling household goods

Does anyone know if it's possible to open a UK current account while not a resident of UK ?

Yes, no difficulty at all. The UK bank will want to see Goverment issued picture ID (passport/driving licence) and proof of address as well as details of existing currrent account (I think 3 or 6 months bank statements would be more than sufficient)
You can do this by just popping over the border to Northern Ireland; As I bank with UlsterBank here, I used UlsterBank in Newry, have to say they were very helpful. They also gave me a Switch (debit) card, which, among its other uses, enables you to book Ryanair flights online without paying Michael O'Leary's ridiculous, overpriced €6 credit card levy. A slightly less ridiculous STG£1 will be charged instead.

Another useful benefit is the ability to set up direct debits (availing of special offers and so on) to UK based service providers, magazine subscriptions etc.

 

[Savy]

Re: Selling household goods

Observer,
Are you saying that if I go to UB in Newry with an Eircom bill,Irish driving licence that they will create a "UK" account

Did it help that you had an UB account here?

Did you have to give any reason that you needed the a/c?

S

 

[Observer]

Re: Selling household goods

Are you saying that if I go to UB in Newry with an Eircom bill,Irish driving licence that they will create a "UK" account

Yes, thats exactly what I did.

Did it help that you had an UB account here?

Helpful in establishing identity and bona fides but not at all essential.

Did you have to give any reason that you needed the a/c?

They do ask but they're not particularly fussy about the answer - any valid reason should be OK. Also if the account is for personal rather than business use, you don't pay fees. Nor do they have stamp duty on ATM cards or chequebooks.