Can I do this? (ebay)

TurkishDelight

montyrebel wrote: »

yeah keep doing it, nearly everyone on here does I am guessing

I don't see that many dumb people on here. Just register OP, if you don't make much then it won't make much difference to the tax you're paying, and if you do make a lot then it's a good job you did register. I'm guessing it is easier for HMRC to spot with clothes, if you are selling a wide range of sizes it might be hard to defend.... unless you claim to be on constant yo-yo diets

cyril82

you don't have to register self employed straight away, you have three months in which to do so, if you think it could become a business then why not have a real crack at it for 2-3 months then register as a business if it takes off.

If it doesn't take off, next time you spot a bargain just buy it sell it and keep your gob shut

teambathmat

I will only be doing a couple of items a month as and when I spot a bargain.

Don't think I can be arsed doing anymore than that.

Samba_Pa_Ti

unless you sell 100's of items a month i cannot see why you should register as a business seller. its the equivelant of saying you are self employed when doing betterware (when its impossible to live off the proceeds).

TurkishDelight

Samba_Pa_Ti wrote: »

unless you sell 100's of items a month i cannot see why you should register as a business seller. its the equivelant of saying you are self employed when doing betterware (when its impossible to live off the proceeds).

Lots of businesses make a loss, so it's hardly classified by whether you can live off it. (although admittedly if you are making a loss it doesn't count tax wise) I don't know what betterware is, I'm guessing it's some kind of doorstep selling thing? If so- then yes it should be declared, well put it this way, if you were unemployed and the jobcentre found out they would stop your JSA for it- same type of thing. Anyway, OP found you a official link (I'd read example 3 especially). http://www.hmrc.gov.uk/guidance/selling/examples.htm

geri1965_2

goanmad wrote: »

Be very careful. If you're buying items with the intention of selling on to make a profit you should declare yourself a business. It only takes one p***ed off buyer to report you to the Inland Revenue.

How would the p*ssed off buyer know where he bought the items and that he only bought them to sell and make a profit?

custardy

if you do register as a business
then set up a seperate private account for buying and selling your own items

Smart_But_Casual

For selling odds and sods for peanuts you'd be insane to register as a sole trader.

kprigg

geri1965 wrote: »

How would the p*ssed off buyer know where he bought the items and that he only bought them to sell and make a profit?

If they look at the OP's history & see they have been selling lots of clothes in different sizes they may well come to the conclusion that the OP is buying to sell on.

I would do as others have said & see how it goes over the next couple of months & if all goes well then register. You would hate to get found out & then pay fines etc - its just not worth it.

payless

TurkishDelight wrote: »

Lots of businesses make a loss, so it's hardly classified by whether you can live off it. (although admittedly if you are making a loss it doesn't count tax wise) I don't know what betterware is, I'm guessing it's some kind of doorstep selling thing? If so- then yes it should be declared, well put it this way, if you were unemployed and the jobcentre found out they would stop your JSA for it- same type of thing. Anyway, OP found you a official link (I'd read example 3 especially). http://www.hmrc.gov.uk/guidance/selling/examples.htm

great link ,