We’d like to remind Forumites to please avoid political debate on the Forum.
This is to keep it a safe and useful space for MoneySaving discussions. Threads that are – or become – political in nature may be removed in line with the Forum’s rules. Thank you for your understanding.
📨 Have you signed up to the Forum's new Email Digest yet? Get a selection of trending threads sent straight to your inbox daily, weekly or monthly!
Do i register as a trader?
nora_batty
Posts: 19 Forumite
Hi,
Im thinking of selling items at carboot sales and auctions as a job. I will be buying to sell at a profit (of course). Im not seeking any finance as i can fund this myself. Im getting a midi van at the end of next week so that i can get larger items for selling. Ive looked at business link and im not that good at taking in whats been written.
Does anyone do this as a job? Any advice would be great.
Im thinking of selling items at carboot sales and auctions as a job. I will be buying to sell at a profit (of course). Im not seeking any finance as i can fund this myself. Im getting a midi van at the end of next week so that i can get larger items for selling. Ive looked at business link and im not that good at taking in whats been written.
Does anyone do this as a job? Any advice would be great.
0
Comments
-
You haven't given enough info for advice. Presumably you would be buying to sell. If so, yes register as a business after thinking it through. Business plans are only necessary if you are seeking finance.0
-
Ive adjusted my first post.0
-
I agree with macfly, keep it simple. I do buy and sell (just call me Delboy!) and I just keep records of my outgoings on 'stock' other expenses like stationery postage ebay and paypal fees. Then have details of all my income/turnover.
The accounts are very simple, if your turnover is under 15k a year HMRC require three lines from you on your online tax return. I do however keep all my paperwork and books safely for a minimum of 6 years.
I don't make a living at it but I am effectively funding several very good holidays a year through something i enjoy doing.I’m a Forum Ambassador and I support the Forum Team on the eBay, Auctions, Car Boot & Jumble Sales, Boost Your Income, Praise, Vents & Warnings, Overseas Holidays & Travel Planning , UK Holidays, Days Out & Entertainments boards. If you need any help on these boards, do let me know.. Please note that Ambassadors are not moderators. Any posts you spot in breach of the Forum Rules should be reported via the report button, or by emailing forumteam@moneysavingexpert.com.All views are my own and not the official line of MoneySavingExpert.0 -
Im going to ask my sister to help me with the accounts.
How long does it take to register as a sole trader (days, weeks?)0 -
It would be advisable to make an appointment at your tax office. There are one or two problems already for you. You will have few purchase receipts if you buy at car boots as well as sell, and also not all your sales receipts. Clarify this with them first.
Account for all you buy, all you sell, and your mileage plus fees. For most businesses, unless you are buying a very expensive van, you claim 40p per mile. Stick in the odd sandwich and brew at the car boot and you're off.0 -
The tax office can be really helpful, I had a personal business manager for several months when I first started up and they offered me courses and things I could go on free of charge.
Mind you, it was a while ago now.I’m a Forum Ambassador and I support the Forum Team on the eBay, Auctions, Car Boot & Jumble Sales, Boost Your Income, Praise, Vents & Warnings, Overseas Holidays & Travel Planning , UK Holidays, Days Out & Entertainments boards. If you need any help on these boards, do let me know.. Please note that Ambassadors are not moderators. Any posts you spot in breach of the Forum Rules should be reported via the report button, or by emailing forumteam@moneysavingexpert.com.All views are my own and not the official line of MoneySavingExpert.0 -
I will have a look at this tommorow, many thanks for helping me.0
-
Soo - you must be perpetually busy to be a business seller, post here all the time and hold down an ordinary job as well."Well, it's election year, Bill, we'd rather people didn't exercise common sense..." - Jed Bartlet, The West Wing, season 4
Am now Crowqueen, MRes (Law) - on to the PhD!0 -
HMRC still offer training courses, you can find details of advice teams offering them locally here:
http://search.hmrc.gov.uk/kb5/hmrc/hmrc/results.page?qt=advice+teams0 -
Soo - you must be perpetually busy to be a business seller, post here all the time and hold down an ordinary job as well.
it's just a ruse not to have to do any housework.I’m a Forum Ambassador and I support the Forum Team on the eBay, Auctions, Car Boot & Jumble Sales, Boost Your Income, Praise, Vents & Warnings, Overseas Holidays & Travel Planning , UK Holidays, Days Out & Entertainments boards. If you need any help on these boards, do let me know.. Please note that Ambassadors are not moderators. Any posts you spot in breach of the Forum Rules should be reported via the report button, or by emailing forumteam@moneysavingexpert.com.All views are my own and not the official line of MoneySavingExpert.0
This discussion has been closed.
Confirm your email address to Create Threads and Reply
Categories
- All Categories
- 355.1K Banking & Borrowing
- 254.7K Reduce Debt & Boost Income
- 455.8K Spending & Discounts
- 247.9K Work, Benefits & Business
- 605K Mortgages, Homes & Bills
- 178.8K Life & Family
- 262.7K Travel & Transport
- 1.5M Hobbies & Leisure
- 16.1K Discuss & Feedback
- 37.7K Read-Only Boards