Thanks Emily!

1st_Time_Saver

After reading your thread 'Can i clear a debt a month?' i decided to try selling books on Amazon. I put a book on there on sunday (i paid £1.60 for it from a book stall) and it sold yesterday for £7.75!! :j

Im going back to the market stall to stock up!

Cheers Em, roll on next Amazon sale! :beer:

1st TSx

ehallett

Aww, thank you. Nice little profit there then.

FatJock

Hi,

Can I ask a couple of questions about amazon?

I've sold some books on there in the past (only made about £7.00) but after postage it didn't seem worth the effort. Can anyone advise me

a)what are the best book to sell?
b)what is the maximum amount you can sell? (i.e. is there a limit)
c) are there any tax implications?

Thanks in Advance
FatJock

AGB863

FatJock wrote:

Hi,

c) are there any tax implications?

Yes - if you buy anything and sell for a profit on a regular basis you can be said to be running a business.

A number of people have been caught by Inland Revenue after running business on E-Bay and they had not declared it and they have been done for none payment of tax etc

nrsql

a) Think self help books go well. Fiction not so well.
b) Don't think so - just what people will pay.
c) If you sell at a loss (e.g. are selling books you bought to read) then probably not. If you are buying to sell at a profit then yes. Note that IR and co know about these sites and do monitor them. It's unlikely you would be worth pusuing for this alone but it may come up if you were investigated. At some point they may get their act together and spend the money to develop an automated system to highlight people doing this and that would probably include historic data.

FatJock

all,

Thanks for the info. We've got a shed load of books in the house (both avid readers). I was thinking of selling them on amazon and give those that dont sell to charity and/or swap them. Just didnt want to get stung for tax or get fingered by HM tax inspector because he thinks I'm trying to rip him off.

On a seperate note - does anyone know of a website where you can swap things (on a similar vein the the chap who swapped a paperclip for a house)?????

Sorry for hi-jacking the thread.

Regards
FatJock