Receiving sales income on behalf of 17 year old son

[Mister D]

I think this is a fairly basic question, but I am struggling to find a clear answer to it:

My son, who is 17 and in full-time education, has created something that he wants to sell over the internet. Given his age, payment intermediaries (through which customers will make payments) will not allow him to use his own bank account. If I allow him to use a bank account in my name to take receipt of the payments, after which I’ll transfer the funds to him, would this have tax implications for me?

Thanks in advance.

[AGoodman]

It wouldn't strictly have tax implications for you as you are receiving the money as nominee for your son, but it's possible that HMRC may raise a query at some point because they won't know that.

If that happens, you want to have documented evidence that the trading was being carried out by your son. Ideally he would be the account holder on the selling platform but, either way, if he sells over £1k he will need to register with HMRC as self-employed - this will be helpful to show it is his business.

[Mister D]

Thank you.