Using PayPal to get paid for surveys

[tellmewhenthespaceshiplandscoz]

Hi all. Inspired by a few money making threads recently I've signed up to a few websites mainly to do surveys and get paid either with points which convert to vouchers or in the case of one, paid by cash to PayPal.

I don't have a PayPal account yet so I need to get one set up as I'm getting close to my first payment threshold (yippee!). I will literally only use the account for this purpose and my aim is to leave any cash in there and then use the £ to pay for Christmas online shopping.

Can anyone advise whether I need to open a personal or business account? I'm pretty sure it's the personal one however I've been looking on PayPal website and I'm finding it unclear regards fees I'll be charged. If it turns out they take a massive cut it may be the money I'll get after deductions doesn't make it worthwhile.

Also, would earnings like these be something I should declare to HMRC?!

Thanks

Bumpity bump

Re the tax point. £1000 can be made tax free under trading allowance. There are some conditions so I’d look it up to check if it applies to you.

Thanks Mlm I'll check. I knew something of the £1000 threshold but wasn't sure if this sort of thing counted as "income".

Sorry Mlm