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

captainspam

I just got a little bit excited and had to share it wit you all. I received my order today so listed a few items and guess what I sold 1 of them wooo hoo. Im just a little excited here.

mrscmr

yep im selling my stock too... so im happy!

good going ladies! x

JesaRose

too_much_debt wrote: »

Hi

How do you work out what your profit is, do you have a spreadsheet that you enter it all in, I just can't be bothered to keep checking for FVF when I sell anything and Ebay is my only income so I use that money for food and stuff as well as for my credit card bills.

The FVF is now 10% I think so it should be quite easy to work out - sell something for £10, FVF is £1. Its a lot isn't it, but ebay has the market so we use it.

However I'm not quite sure if it might be less for business sellers or not

I like the nicknames:rotfl:

too_much_debt

Well done Captainspam (keep wanting to say Captain Mack, been watching too much children's TV I think) and mrscmr.

I better get my stuff listed soon then.

captainspam

this is all very new too me and i really dont know what im doing. I have registed as a buisness seller but i dont really know what to do about tax and vat NI etc. I surpose i should wait and see if i actually manage to sell properly.

mrscmr

you need to tell tax man and ni people to ensure you pay the right ni contribution.

think that vat doesnt matter until you reaching the vat threshold... am i right on that someone? its around 52k?

too_much_debt

I just rang up the number on the HMRC website and they asked me about NI, I said I still wanted to pay it to keep my contributions up, my mum paid reduced NI contributions when she started work after having me and when she retired I think her weekly pension was 2p a week as she never paid enough NI so that is why I prefer to pay it as when I had DD1 they sent me a letter saying I had a State Pension, haven't had anymore correspondence since though.

You would have to earn a lot to have to be VAT registered.

The best thing to do if you do start as a Sole Trader is to keep records of everything you sell and keep all receipts, I made the mistake of not keeping up to date with my records and it took me ages to fill in all the blank bits on my spreadsheet so I had to search through all my receipts and Certificate of Postings to fill it all in.

I shall be updating once a week from now on.

too_much_debt

mrscmr - did you decide on a Shop? I am going to open one on 1st Feb as my invoices run from 1st to last day of the month.

Must get my stuff sorted out now.

Back later.

mrscmr

will be starting a shop in march hopefully, but i am now a business account!

captainspam

Thats something i wanted to ask, i wanted to do the shop but couldnt find where to do it and also when i listed my items i could only do 10 days but i wanted to list them for longer. Any ideas?