Where to buy items to sell

motorguy

soolin wrote: »

It would hardly have been helpful though to ignore a post that suggests defrauding HMRC. The OP is going to be running a business and a post popping up suggesting that fraud is the way to go about this, will surely have caused a great deal of issues for the OP should the statement have stood uncorrected.

+1

Plus the other side of that is, its relatively easy to build a business model that works when you arent paying any taxes on it and compete with people who actually are legitimate businesses and declaring their sales. Not so easy to sustain when you suddenly have to pay your dues.

motorguy

cocoloco wrote: »

Thank you Hughesy84 for bringing back the focus to the original question.

I have also learned my lesson and will not post any ideas in the future in case I have the HM Inland Revenue and the Fraud Sqad knocking on my door for making £100 - £150 per year...

As for CYBERBOB why don't you just stone me while you are at it for "my silly rants'.

cocoloco over and out!

If you're 'just' making £3 a week at it, why bother? Or are you earning more than that? Is it really up to you to decide IF you have to pay tax? Or what happens when your business starts to grow, given you have to declare with the IR when you've started a business NOT at some point in the future when you can be bothered.

JimmyTheWig

pgilc1 wrote: »

If you're 'just' making £3 a week at it, why bother?

Why not?
It's not like it's hard work to buy something that looks cheap and then put it on eBay.
Still doesn't mean it's not a business, though.

cocoloco

Hughesy84 wrote: »

OP asked for ideas....not a lecture on Business rules!!

Thank you for bringing back the focus for the original question and not jumping on the bandwagon.

I have also learned my lesson and will not post anything on this forum again or may get the Inland Revenue or the Fraud Squad knocking on my door (or some would like you to belive) for making £100- £150 pounds a year.

While we are on the subject maybe we can report all of us compers as well and we can all pay tax on our winnings and freebies ( I wander how much tax should I pay on a Tayto mousemat???) just to keep everybody happy.

As for you Cyberbob, why don't you just stone while you are at it for my 'silly litlle rants' - see if I care?

Cocoloco over and out!

JimmyTheWig

OP, I suggest car boot sales, charity shops and anywhere else that sells stuff cheap.

My advice would be to pick an area that you are knowledgable about (e.g. children's clothes, science-fiction books, 1970s records) and concentrate on it. The more you buy and sell the more you will get a feel of what sells and for how much. Then the more able you will be to bag a bargain when you see one.

StaffsSW

cocoloco wrote: »

While we are on the subject maybe we can report all of us compers as well and we can all pay tax on our winnings and freebies ( I wander how much tax should I pay on a Tayto mousemat???) just to keep everybody happy.

It's not just the tax situation, but all the e-commerce and SOG requirements that need to be fulfilled. It's for the benefit of the consumer, which I believe is the main focus for this site.

Admittedly HMRC have bigger fish to catch, but they do tend to act on all reports, regardless of size, due to the easy nature of reclaiming once they have the information.

Besides, An ebay business account enjoys lower fees overall, and a bit of accountancy knowledge can minimise tax legitimately, as well as offset considerable private expenditure.

Competition prizes are generally outside of the scope for HMRC as well.

motorguy

JimmyTheWig wrote: »

Why not?
It's not like it's hard work to buy something that looks cheap and then put it on eBay.
Still doesn't mean it's not a business, though.

My point was its easy to pluck a low figure out of the air to back up your point - which is what coco could have done.

cocoloco

pgilc1 wrote: »

My point was its easy to pluck a low figure out of the air to back up your point - which is what coco could have done.

Now you call me a liar as well- what's next???:mad:

preable

I suggest simple things like games consoles and games. But bear in mind you have to buy them at the right price to make it worth your while

Hughesy84

preable wrote: »

I suggest simple things like games consoles and games. But bear in mind you have to buy them at the right price to make it worth your while

Have you any experience in doing that?

Do you buy the consoles off ebay & just sell them on you mean? Or buy new @ wholesale prices?!