Profit from EBAY

Poodle34

[FONT=Verdana, Arial, Helvetica]Hi everyone,

Thanks for your valueable advice so far, couldn't got to this stage without you.

My question is, I lost my engagement ring a few months ago and my insurance company paid out for it in the form of a gift voucher to be spent at specific jewellers.

In the meantime, my husband sold his car so that we could pay our bankruptcy fees.

I haven't yet replaced my engagement ring although had intended to do so, but my husband has now found a new job which starts monday but he has no transport. I am BR too and have been allowed to keep my car for work purposes, but we can't car share as our jobs are in totally opposite directions, plus I travel across the area for my work so need a car all day.

If I were to auction the voucher on ebay and make around £500 would we be able to then buy an old banger that my husband could just use for work purposes? How would the OR view this?

Also a general question about ebay, if I make about £50 from ebay a month - just selling old clothes and general household clutter, do I have to tell the OR?[/FONT]

antarctica

good question, will be watching for an answer..

verychattyeve

Hi Poodle,
Have just asked my OR same question.
Will let you know what he says.

JCS1

If selling items you already own, then the OR is unlikely to be interested. Especially when you take into account listing fees, FVF fees, paypal fees and postage!

But, if buying items to then sell on, you're a business and should be registered as such with HMRC. OR will probably then take an interest.

Poodle34

Thanks for your responses, any ideas about the car issue though?

debtinfo

Depends on how much the insurance pay out is, you may need to delare it to the OR. Remember it is not the OR's job to provide him with a vehicle just to decide if a vehicle should be taken away. They may be sympathetic if the new job means that he can pay an IPA though.

As regards ebay income. If you are trading then it shuld be declared to the OR. How to define trading..hmm. Well i would think that most people would agree that if you buy items then resell them that would be trading. If your just selling some stuff you already have then that wold not be trading