Paypal Name - Smokescreen

[alexhill7]

Hi All,
Your advice would be appreciated.
My colleague and i have set up a ltd company designing and importing/exporting goods and selling mainly on ebay but also to small businesses.

We have both set up individual ebay shops selling our products and intend to share one paypal account which all the transactions will go through into our Ltd company.

We have set up 2 x unique ebay shops not relating to our Ltd company, these shops will carry our ltd company branding, and a kind of smokescreen, as we can sell directly to the public while selling also to other ebay shops.

The one problem we forsee, when we create our paypal business account, we are pressuming this will need to be the same name as our ltd company?
But we do not want our limited company being stated on our invoices/transactions etc through to our customers?

From an accountancing point of view, is this all too complicated or are we thinking of it the wrong way?
Are we able to hide our business name on Paypal?

Thanks
Alex

 

[japancool]

Hi All,
Your advice would be appreciated.
My colleague and i have set up a ltd company designing and importing/exporting goods and selling mainly on ebay but also to small businesses.

We have both set up individual ebay shops selling our products and intend to share one paypal account which all the transactions will go through into our Ltd company.

We have set up 2 x unique ebay shops not relating to our Ltd company, these shops will carry our ltd company branding, and a kind of smokescreen, as we can sell directly to the public while selling also to other ebay shops.

The one problem we forsee, when we create our paypal business account, we are pressuming this will need to be the same name as our ltd company?
But we do not want our limited company being stated on our invoices/transactions etc through to our customers?

From an accountancing point of view, is this all too complicated or are we thinking of it the wrong way?
Are we able to hide our business name on Paypal?

Thanks
Alex

If the transactions are going through your limited company, then I believe you will have to legally provide your company information on your invoices. Unless the funds aren't going in to your limited company's bank accounts, and the ebay shops are totally separate and unrelated business entities. But in that case, why not have separate Paypal accounts?

 

[fisicx]

I seem to recall PayPal clamping down on multiple business accounts. If they even discover what you are doing you could end up being shut down with no access to any funds they hold.

Form their website: https://www.paypal.com/helpcenter/m...&countrycode=AU&cmd=_help&serverInstance=9012

One business acount and one personal account. That's all you are allowed.

 

[alexhill7]

Thanks both for your comments...........

Ok, re-thinking this a little. If both ebay outlets shared the same paypal business account (which i believe is possible).
Can we simply call the paypal business account an erroneous name which didnt match our ltd company?

Thanks
Alex

 

[StevensOnln1]

The PayPal account has to be in the name of the Ltd company. You also have to give the company name, address, etc on invoice/receipts that you issue. There's no getting around it without breaking the law.

 

[japancool]

Thanks both for your comments...........

Ok, re-thinking this a little. If both ebay outlets shared the same paypal business account (which i believe is possible).
Can we simply call the paypal business account an erroneous name which didnt match our ltd company?

Thanks
Alex

The key question is, are your ebay shops selling in the company's name, are the sales going through the company's books, or is it selling through a different legal entity?