eBay Sales - Advice on Declaring it to HMRC

jason.parker.86

I went online to complete my self -assement (Dry Run) and thats what it said -

vangirl_2

I would recommend you visit your local tax office or join business link online. They tell you about the records you need to keep then just set up your own spreadsheet. Look at helpsheet 222 "how to calculate your taxable profits".

jason.parker.86

http://taxcalc.com/files/draft_forms/sa103s.pdf

soolin

jason.parker.86 wrote: »

I went online to complete my self -assement (Dry Run) and thats what it said -

Thank you, that means I can up my selling a bit then.

jason.parker.86

Why does that mean you can up your selling?

vangirl_2

soolin wrote: »

Thank you, that means I can up my selling a bit then.

Lol, anything to avoid a balance sheet

jason.parker.86

is it that bad?

vangirl_2

Just compare the sa103s to sa103f and you'll see why soolin wants to keep her turnover under 30,000

soolin

vangirl wrote: »

Just compare the sa103s to sa103f and you'll see why soolin wants to keep her turnover under 30,000

Absolutely, I know it is silly but my trading is a tiny part of my life and for the hassle of having to do proper accounts I just couldn't be bothered. Also the way I run my books in particular would mean keeping stock levels accurately would be a nightmare.

In a previous career I was an accountant, but doing personal tax for ex pats not accounts and whenever I helped out doing accounts I found it very confusing.

jason.parker.86

I dont understand why eBay dont tax everyone and its then upto the individual to claim back their overpaid tax! Save everyone alot of hassle!