selling your stuff on Amazon...part three...

larmy16

soolin wrote:

This is pricing in proportion and comes into effect in August. Here is the latest update on it:

http://www.pricinginproportion.co.uk/index.asp?Adlink=ID1

I have my free help pack already and worked out that it will increase my postage charges in almost all instances. This new scheme is on top of the 3rd April routine price increases.

Soo

Thanks Soolin. She showed me this guage thingy and basically if your parcel would not go through it, and mine did not! - it meant that most books and videos unless they are very small will cost more to send. She said if you could have got your parcel a little thinner, but it had only one layer of bubble wrap plus plastic wrapping, so there was no way I could have sent it with less packaging without complaint from the buyer! It is yet another thing that is food for thought regarding sales on Amazon.

becky004

larmy16 wrote:

The thing is, if you want to continue to sell, then eventually the book total is going to go into much higher figures. If you go to car boot sales and charity shops hunting for books to sell on, then you are trading and as such are liable to pay tax on your profits. It is a tricky and annoying situation.

When I started selling on Amazon I bought a laptop, but now my profits have exceeded the amount I paid for it, plus packaging etc. I believe now is the time to start keeping strict accounts regarding Amazon. I am already self employed so will not have to register as such, but if you are already working full time, then presumably you will be earning way more than your tax free limit and would really be liable to pay probably 22% tax on your income over about £7,000.

Am in desperate need of a new computer so if I got one I could start declaring what profit I make after it has been paid for from the profits?
I must admit I have started going to boot sales, so presumably petrol costs could come off too. What about initial purchase of books to sell on? As they don't give receipts at boot sales. Also what if I kept my Amazon book list small I have about 200 items listed, and I say this tentatively at the moment I have more books going out than coming in (but appreciate that won't always be the case). If I kept it small couldn't they be personal stuff? Before RISI I used to buy at least 2 books a week for myself. I probably have not far off a thousand stored in the attic which I was going to sort and list when we eventually move I won't be in such a rush now!

becky004

Found another "buyer waiting" one for you:- The Complete Crossword Solver

smartcat04

Thanks for clearing things iup on the tax issue. Makes things a lot clearer.

larmy16

becky004 wrote:

Am in desperate need of a new computer so if I got one I could start declaring what profit I make after it has been paid for from the profits?
I must admit I have started going to boot sales, so presumably petrol costs could come off too. What about initial purchase of books to sell on? As they don't give receipts at boot sales. Also what if I kept my Amazon book list small I have about 200 items listed, and I say this tentatively at the moment I have more books going out than coming in (but appreciate that won't always be the case). If I kept it small couldn't they be personal stuff? Before RISI I used to buy at least 2 books a week for myself. I probably have not far off a thousand stored in the attic which I was going to sort and list when we eventually move I won't be in such a rush now!

Becky I think our treasured AT will be able to give you more accurate advice than myself. It costs me 1.20 (40p per mile self employed) each time I have to drive to PO, and on occasion have been say four days a week. That soon adds up. Also I spent 3.20 in charity shop the other day. Not one of those books was worth listing!!! :rolleyes: Also I agree with you on the boot sale issue - again no receipts and you certainly dont want the sellers to know you are a seller - I think AT said you just give a rounded figure of what you bought. Hopefully she will be along soon.......:)

larmy16

becky004 wrote:

Found another "buyer waiting" one for you:- The Complete Crossword Solver

I am certain I have seen and rejected buying this book!!!!!!!!!!

becky004

larmy16 wrote:

Becky I think our treasured AT will be able to give you more accurate advice than myself. It costs me 1.20 (40p per mile self employed) each time I have to drive to PO, and on occasion have been say four days a week. That soon adds up. Also I spent 3.20 in charity shop the other day. Not one of those books was worth listing!!! :rolleyes: Also I agree with you on the boot sale issue - again no receipts and you certainly dont want the sellers to know you are a seller - I think AT said you just give a rounded figure of what you bought. Hopefully she will be along soon.......:)

I think I may have a solution! OH is currently on about £65 a week Statutory Sick Pay from his employer, as he is not likely to have the necessary surgery in the near future to enable him to work his employers will probably finish him off soon (work wise not literally!). If he came off SSP and had no state benefit claims as I earn too much (as far as the government not I am concerned!), then he could run the books as he would be well below the tax paying thresh hold. Would that work?

becky004

larmy16 wrote:

I am certain I have seen and rejected buying this book!!!!!!!!!!

What you doing on here then? Get out and buy it now!

larmy16

becky004 wrote:

I think I may have a solution! OH is currently on about £65 a week Statutory Sick Pay from his employer, as he is not likely to have the necessary surgery in the near future to enable him to work his employers will probably finish him off soon (work wise not literally!). If he came off SSP and had no state benefit claims as I earn too much (as far as the government not I am concerned!), then he could run the books as he would be well below the tax paying thresh hold. Would that work?

It does sound perfectly feasible to me!:)

kaznelson

What do you do when one of your swaps doesnt arrive on RISI?