@ynwauzzyx wrote:
Unfortunately there isn’t . Maybe because I’ve just provided my Ni number today and I’m not allowed to
make any changes .
Okay, that's no big deal, there's no urgency to upgrade the account as long as HMRC can be dealt with. You can still use the account.
I am concerned that, whilst your son may use your account with your permission, the tax liabilities will be a problem because it's your account, your NINO attached to it, but his bank account (I still can't work out how he managed to change it to his without raising a red flag with eBay). If you're in a position to run this by an accountant, I would do so, only because money laundering needs to be ruled out. Get professional advice, not somebody on FaceBook who knows it all because they have an uncle who is a retired accountant from Debenhams or something.
Best thing is for him to keep a folder of receipts for phones he's bought to re-sell and get into the habit of running a little business correctly. Hopefully he bought the phones with his debit card so all buying and selling transactions will show on his bank account. He'll have a personal tax allowance so there won't be any to pay but, again, my concern is that the account is yours and I don't know what kind of view HMRC will take of funds being directed to the bank account of somebody who is not the account owner and has a tax allowance, whilst the account owner doesn't. Again, you need a professional take on this.
