***Make Us Money in 2010 with Ebay Challenge***

soolin

jaynemaria wrote: »

Now I know that if you buy to sell on it would be classed as a business, I put some of my handmade cards on I dont very often make a profit,I just get my money back, its just that because of my illness I make them as a hobby and then put a few on when I have so many I dont know what to do with them. Would this be looked on as a business though?

Unfortunately yes.

too_much_debt

smem wrote: »

Thanks for the advice about registering as a business seller. l am registered self employed for one of my jobs so currently fill in a tax return, was intending to just add this income to my next return. l will look into the business seller requirements though.

At least you are registered as Self Employed so if anyone did report you, they would already have your details so you would not get into trouble.

I think it is from this month that Business sellers have to have their address on the auction page (not the About Me page like it has been up to now). I already have my details on the my auction pages but they will be getting tough now. It says on the message on the Announcement Board that if they notice someone registered as a Private Seller who is obviously a Business then they will be e-mailing them and telling them to upgrade to a Business otherwise they will get booted off Ebay, so best to be upfront.

too_much_debt

jaynemaria wrote: »

Now I know that if you buy to sell on it would be classed as a business, I put some of my handmade cards on I dont very often make a profit,I just get my money back, its just that because of my illness I make them as a hobby and then put a few on when I have so many I dont know what to do with them. Would this be looked on as a business though?

Hi, Yes they would class you as a Business as they will just see that you are making something and selling it, whether it be for a profit or not, I sometimes have to sell things for a loss to get rid of them.

You even have to register with HMRC for Tax purposes if you are selling as a Business (this includes buying second hand stuff at carboots specifically to sell on for a profit), even if you don't earn enough to have to pay tax (like me), they still want to know, all it means for me is that I fill in a Tax Return (keeping all receipts, and what I sell etc), then it tells me at the end of the return that I do not need to pay tax as I've not earnt enough and that is it. I have not had to pay tax since I've been a Business as I just don't earn enough, but at least I am being honest about what I do as it wouldn't be worth the fine if caught.

Someone who sells the same sort of stuff as me has on their About Me page that they got done for not registering for tax as they were reported by someone, she even got into trouble as her husband started the Business up years ago when she was ill and was using her name so she had to pay all the Benefits back that she received, think she lost 3 appeals so you can't win.

soolin

I've heard some really upsetting cases of people being caught in the past few months, from huge (estimated) tax bills that arrive red edged to intimidating letters from the benefit office.

Anyway, just to remind people : If you want to go to a PO and use the current postal rates then you need to do it tomorrow, make the effort if you have anything heavy, or if you have a number of items as in some cases the postal increases are fairly large. I was planning to stamp everything and go round tomorrow just before the sorting office closes and get the whole lot receipted.

jaynemaria

Thanks for the info about the cards, I wont add anymore then, its is annoying but not worth the risk. I dont buy anything to sell on, although I have been given losts of things that are new by my MIL which she has had for presents and doesnt want so passed them to us, but I would imagine thats ok.

Mind you I know that there are some people who really fiddle the system. A friend of a friend was saying to my friend how worried she was as she was making too much money on ebay she is using hers, her OH and another accountin her mums name to sell items she makes. She doesnt want to register as a business as she says her OH is on a low wage and it would affect their child credits.

She averages after paying for the raw materials, wait for ................

£3500 a month:eek:,

My friend has tried to tell her that she is treading on thin ice but she wont listen, I think it will be a cse of learning the hard way

hermum

jaynemaria wrote: »

Thanks for the info about the cards, I wont add anymore then, its is annoying but not worth the risk. I dont buy anything to sell on, although I have been given losts of things that are new by my MIL which she has had for presents and doesnt want so passed them to us, but I would imagine thats ok.

Mind you I know that there are some people who really fiddle the system. A friend of a friend was saying to my friend how worried she was as she was making too much money on ebay she is using hers, her OH and another accountin her mums name to sell items she makes. She doesnt want to register as a business as she says her OH is on a low wage and it would affect their child credits.

She averages after paying for the raw materials, wait for ................

£3500 a month:eek:,

My friend has tried to tell her that she is treading on thin ice but she wont listen, I think it will be a cse of learning the hard way

Hopefully she will be caught anyone who can earn £3,500 a month should be so proud of doing that. When she gets prosecuted for fraud that will certainly take away any feeling of pride. I should have thought that stealing that amount of tax payers money could actually bring a prison sentence as well as a huge fine. Why on earth do people think that it's ok to do that?
Rant over

too_much_debt

Thanks Soolin, will definitely wrap everything that I have sold/sell today and post it tomorrow before the prices go up.

Yesterday I bought 50 1st Large Letter stamps before the prices go up as I sell a lot of girls swim suits so that will be a bit of a saving.

too_much_debt

jaynemaria wrote: »

Thanks for the info about the cards, I wont add anymore then, its is annoying but not worth the risk. I dont buy anything to sell on, although I have been given losts of things that are new by my MIL which she has had for presents and doesnt want so passed them to us, but I would imagine thats ok.

Mind you I know that there are some people who really fiddle the system. A friend of a friend was saying to my friend how worried she was as she was making too much money on ebay she is using hers, her OH and another accountin her mums name to sell items she makes. She doesnt want to register as a business as she says her OH is on a low wage and it would affect their child credits.

She averages after paying for the raw materials, wait for ................

£3500 a month:eek:,

My friend has tried to tell her that she is treading on thin ice but she wont listen, I think it will be a cse of learning the hard way

Blimey, she wants to be careful, all it would take is another Ebayer or someone she knows who is jealous of what she is earning seeing how much she is selling to report her and she will be i real trouble, sounds like she will learn the hard way eventually.

Did your friend say what she sells?

jaynemaria

Yes I know what she sells, I have had a nosey, she does have a shop, but then there are the other two accounts that I know she uses that are just normal personal accounts, Can you have a shop but not register as self employed??

smem

too_much_debt wrote: »

At least you are registered as Self Employed so if anyone did report you, they would already have your details so you would not get into trouble.

I think it is from this month that Business sellers have to have their address on the auction page (not the About Me page like it has been up to now). I already have my details on the my auction pages but they will be getting tough now. It says on the message on the Announcement Board that if they notice someone registered as a Private Seller who is obviously a Business then they will be e-mailing them and telling them to upgrade to a Business otherwise they will get booted off Ebay, so best to be upfront.

l agree about being upfront because l would be the one that got caught. As the increases in my sales have only been over the last 3 months l don't have that much to declare after running costs and postage when it is spread over the last 12months but will need to pay some tax, l will just need to slow down a bit over the next 12months and even the profits out.