Turn £100.00 into £10.000.00+ by the end of 2010 official thread PART 2

cally6008

mirry wrote: »

Hi everone , I started selling on ebay and amazon again this week after a 2 year break. I cannot see me making £10,000 but am trying to make anything .
I have sold 5 items on ebay and 5 items on amazon , making £45 !

I dont know why but sometimes I get this message on ebay .......


Gallery - A picture URL (Web address) cannot contain spaces.


Does anyone know what this means please ?

exactly what it says - the url ( example - http://forums.moneysavingexpert.com/newreply.html?do=newreply&p=29039817) cant have any spaces in it

eg - http://www.fakewebsite.org.uk/my picture/this is my picture.jpg

http://www.fakewebsite.org.uk/mypicture/thisismypicture.jpg

moneymabel

mambury wrote: »

not good enough for you??!!



Mabel, you can claim part of your council tax, heating and lighting and mortgage interest as allowable expenses. Doesn't help with the profit but it does help with reducing the income tax bill!
I will claim for 25% of council tax, heating and lighting and mortage interest as I use one room as an office (well shared with OH who sort of works from home). HMRC say you can claim depending on the liveable rooms in your house (not including the kitchen, bathroom, loo) so I have three bedroom and one lounge, one bedroom is the office so 25%. I hope this makes sense! Have a look at this site, it is a mine of information and they are more than happy to help if you need to phone them. THey even offer local courses in business start up, tax, marketing etc.....

http://www.businesslink.gov.uk/bdotg/action/home?domain=www.businesslink.gov.uk&target=http://www.businesslink.gov.uk/

So far today I have woken up to another 2 sales on ebay, nothing on amazon and nothing on BB......

I am listing some more bits and pieces today and I MUST do my ironing today!

Heres to a good day for everyone..... check back in later

Mambury

Hi Mambury-just to clarify (I've checked out business link but my brain is not processing info today!)
My place has one bedroom, one living room and one office/computer room (as well as the kitchen/loo etc) I use the office room for my business so I can claim one third of council tax and electric? And does this get written down with my other expenses like goods bought to sell/postage/packaging stuff etc and then deducted from the profit at the end of the year or does it get put somewhere else?
thanks :-)

natnat13

nikki2804 wrote: »

Hmmm,I'm a beauty student (and quite good at the whole waxing, facial, massage aspect etc). If I get student insurance do you think it would be acceptable to charge people for things? Obviously a lot cheaper than a salon (but things like massage, manicures and facials are dead cheap anyway so easy to make a profit)

I am a fully trained tanning technician with fake bake but atm can't afford there kit - hopefully get this just before summer!

Opinions please! Would you pay a student to do your waxing etc? (Im HNC level so a bit more advanced that SVQ etc) Or would you steer clear? I would obviously make it VERY clear that I am only a student.

I would use you, I think as long as you make it clear you are a student and don't charge full price. Why not get all your girlfriends round and show them your treatments, get some business cards done (vistaprint v cheap!) and ask them to spread the word? I think word of mouth is the best way to get your name around!

nixinixi

moneymabel wrote: »

Hi Mambury-just to clarify (I've checked out business link but my brain is not processing info today!)
My place has one bedroom, one living room and one office/computer room (as well as the kitchen/loo etc) I use the office room for my business so I can claim one third of council tax and electric? And does this get written down with my other expenses like goods bought to sell/postage/packaging stuff etc and then deducted from the profit at the end of the year or does it get put somewhere else?
thanks :-)

I am sure I heard that if you make claims for a portion of all household expenses that when you come to sell you can be liable for capital gains tax against that proportion of the profit of the house... for this reason I have always just used a set amount to cover all household expenses...eg.£5 a week...I am sure that Business Link told me an amount that the Inland Revenue don't look at, if you get greedy they can and then you have to justify it. It was from Business link that I got this information, but it was a VERY long time ago, so please feel free to correct me anyone! But if I am right, or close to it, short term gain in your tax can be completely hegated by any future capital gains tax!

System

Hi, just popping on to update my totals, still going slowly. Loving the challenge but no way I can keep up with the thread. Loving the first post :j

scrooge2008

Hi,

I sold an item, that i'd bought a few of, on a best offer. The buyer paid immediately, and then I contacted them to say that I had another two and that if they wanted them they could have them at the same price and I would combine the postage (am I allowed to do this?).

Buyer responded and said that they would buy them also and could I send an ebay PayPal invoice for these other two.

Can I do bespoke invoices through ebay? or do I need to relist and ask the buyer to buy them that way.

Thanks.

mambury

moneymabel wrote: »

Hi Mambury-just to clarify (I've checked out business link but my brain is not processing info today!)
My place has one bedroom, one living room and one office/computer room (as well as the kitchen/loo etc) I use the office room for my business so I can claim one third of council tax and electric? And does this get written down with my other expenses like goods bought to sell/postage/packaging stuff etc and then deducted from the profit at the end of the year or does it get put somewhere else?
thanks :-)

thats what I would do....make sure you keep your reciepts/bills etc to prove that you are only claiming a portion.....

nixinixi wrote: »

I am sure I heard that if you make claims for a portion of all household expenses that when you come to sell you can be liable for capital gains tax against that proportion of the profit of the house... for this reason I have always just used a set amount to cover all household expenses...eg.£5 a week...I am sure that Business Link told me an amount that the Inland Revenue don't look at, if you get greedy they can and then you have to justify it. It was from Business link that I got this information, but it was a VERY long time ago, so please feel free to correct me anyone! But if I am right, or close to it, short term gain in your tax can be completely hegated by any future capital gains tax!

Very interesting! I heard this too but I was under the impression that this would be negligble.....

I think a quick call to business link/HMRC is in order......

I shall report back when I find out!

Mambury

moneymabel

nixinixi wrote: »

I am sure I heard that if you make claims for a portion of all household expenses that when you come to sell you can be liable for capital gains tax against that proportion of the profit of the house... for this reason I have always just used a set amount to cover all household expenses...eg.£5 a week...I am sure that Business Link told me an amount that the Inland Revenue don't look at, if you get greedy they can and then you have to justify it. It was from Business link that I got this information, but it was a VERY long time ago, so please feel free to correct me anyone! But if I am right, or close to it, short term gain in your tax can be completely hegated by any future capital gains tax!

wont need to worry about capital gains as we live in a static mobile home that only has permission for members of our family to live in!..v v long story-it's on MIL's land and involves council etc..blah blah!
Hmmm might just claim a few quid a month like you say then-its council tax thats the killer :-/ £100 a month for a caravan!

moneymabel

mambury wrote: »

thats what I would do....make sure you keep your reciepts/bills etc to prove that you are only claiming a portion.....



Very interesting! I heard this too but I was under the impression that this would be negligble.....

I think a quick call to business link/HMRC is in order......

I shall report back when I find out!

Mambury

Thanks Mambury-will wait to hear what they say!

mambury

scrooge2008 wrote: »

Hi,

I sold an item, that i'd bought a few of, on a best offer. The buyer paid immediately, and then I contacted them to say that I had another two and that if they wanted them they could have them at the same price and I would combine the postage (am I allowed to do this?).

Buyer responded and said that they would buy them also and could I send an ebay PayPal invoice for these other two.

Can I do bespoke invoices through ebay? or do I need to relist and ask the buyer to buy them that way.

Thanks.

I think you will have to relist them for the buyer (unless they are already listed??) I suppose you could be naughty and not tell ebay but sometimes its easier to play by the rules.

I would email the buyer arrange a time/ day for them to be relisted and them combine the purchase

HTH