some people sell some tat

alfiesmum

Nixxx wrote: »

I don't think tax is payable on this as I'm not buying the stuff to sell. It is things I already own so I believe is exempt.

Ah! In that case tax won't apply you're right. I had presumed that as you're selling items in batches of 100 then they'd be bought in especially to sell on. Sorry about that. I bet you'll be glad of the space when it's all gone in that case. Best of luck with your debts, good to see you working at it, hope it goes well.

jtaylor2008

cyberbob wrote: »

What you will find when you search that the site is us centric (so it sometimes looks like it doesnt apply) but it does apply in the uk also. What I did was open a normal paypal account then email [EMAIL="micropayments@paypal.com"]micropayments@paypal.com[/EMAIL] and ask them to designate the new account as a micropayments one it works well has increased my profits on the cheaper items

Cyberbob, so do you have 3 pp accounts:? 2 premier, 1 personal?

How do you guess which is less than £10 or so, as combined purchases make this not worthwhile if over 10? Or 1 micro, 1 normal, 1 personal? (Thought 1 person could only have 2? - 1 premier, 1 personal / or 3 - 1 premier, 1 personal, 1 business)??

cyberbob

Nixxx wrote: »

I don't think tax is payable on this as I'm not buying the stuff to sell. It is things I already own so I believe is exempt.

I wouldnt go on what you think I would check it out ( i do think you are correct). Even if it is things you already own by the amount of items tou are selling it could be misconstrued by others that you are a business seller. So i would make sure that you are informed about everything incase the inland revenue come a knocking asking for paperwork

cyberbob

jtaylor2008 wrote: »

Cyberbob, so do you have 3 pp accounts:? 2 premier, 1 personal?

How do you guess which is less than £10 or so, as combined purchases make this not worthwhile if over 10? Or 1 micro, 1 normal, 1 personal? (Thought 1 person could only have 2? - 1 premier, 1 personal / or 3 - 1 premier, 1 personal, 1 business)??

We have 2 personal (premier) 2 business (1 micro). They are registered in a mixture of my wifes name, business names and mine (She controls the money:rolleyes:). You are allowed an additional micropayments account your one personal and business account, I think if you techinically have 2 business's you could register one under another name (not sureabout that)

The items we sell under £10 are all BIN with free postage. If people by multiple items we give an overall discount so we then send an invoice from the non-micropayments account if it goes over £10. It can get a little complicated sometimes but its worth it

alfiesmum

cyberbob wrote: »

We have 2 personal (premier) 2 business (1 micro). They are registered in a mixture of my wifes name, business names and mine (She controls the money:rolleyes:). You are allowed an additional micropayments account your one personal and business account, I think if you techinically have 2 business's you could register one under another name (not sureabout that)

The items we sell under £10 are all BIN with free postage. If people by multiple items we give an overall discount so we then send an invoice from the non-micropayments account if it goes over £10. It can get a little complicated sometimes but its worth it

So I'm guessing that if something sells over the £9.50 amount, it costs more than a usual Paypal account to receive it then? I'm looking for an angle on this, that makes Paypal more money in the long run! Such a cynic me! Definitely going to look into getting me one of these...

sunnysea83

how does one get a micro account?

cyberbob

sunnysea83 wrote: »

how does one get a micro account?

The way I did it was open another account then email micropayments@paypal.com and ask that account to be designated as a micro one. Ive had mine for a year. If you go to the micropayment website you could technically apply there but the application seems to be us centric so it can cause problems

This is theres site HERE

As you can see it says

PayPal offers support for Micropayments to merchants for US to US, GB to GB, AU to AU, and EU to EU transactions for Business and Premier accounts.

So if you havent upgraded to a premeir account you will have to. I know people who have tried applying via this site have had problems as the address asked for is a us one. So the way I got mine was quite straightforward.

I do think paypal don't like telling people about micropayments as I think if it was better advertised far more people would have one.

sunnysea83

whats a premier account? i dont know what type i have.

so i would need to open a new account with new bank details

cyberbob

sunnysea83 wrote: »

whats a premier account? i dont know what type i have.

so i would need to open a new account with new bank details

Premeir Accounts Normally as soon as someone trys to pay you via CC through paypal you are asked to upgrade. (it doesnt cost anything)

It depends if all your sales are under £10 you could just convert your normal account. But anything you did sell over £10 will end up costing you more in fees. As far as I know (i could be wrong) you need seperate bank accounts for each paypal account. I just googled and couldnt find anything to tel me otherwise. Although I would advise people though never to have a there everyday current account linked to Paypal. Just in case of problems (better safe). For my personal paypal account I opened a bank account specifically for Paypal. It may sound a bit like overkill but i;m a little paranoid at times:eek:(just ask my wife)

Hope that helps

sunnysea83

thanks for the above, i have a premiere account.

thanks for the tip re bank account - i will have to look in to that.