Ebay trading assistant help needed.

claire_king

I am a trading assistant. Sold a couple of 2nd hand items for someone, made a couple of quid.

Someone has been in touch and would like me to help them sell new items in the region of 30,000 or so they say.

Obviously i wont be getting the funds but just 10 % , how do i go about the tax???

soolin

I assume you are already registered so just carry on as before. If yoru turnover was previously under 15k though you will need to change the way you do your accounts as the current 3 line accounts will not be sufficient. You may find the advice of an accountant to be useful .

soolin

Sorry to reply again before anyone else gets a chance but it occured to me that I ought to warn you about a common scam where a company asks you to sell on their behalf, but who then actually run off with yoru money and leave you in the lurch with ltos of angry customers. We've had a thread on here about it recently.

The way to stay safe is for you to physically hold and ship the goods, what you don't want is to have them shipped by a third party after you release funds to them> At any point you must either have all the money or all the goods, so make sure you check any company out.

frivolous_fay

I second what Soolin said. Beware.

claire_king

soolin wrote: »

Sorry to reply again before anyone else gets a chance but it occured to me that I ought to warn you about a common scam where a company asks you to sell on their behalf, but who then actually run off with yoru money and leave you in the lurch with ltos of angry customers. We've had a thread on here about it recently.

The way to stay safe is for you to physically hold and ship the goods, what you don't want is to have them shipped by a third party after you release funds to them> At any point you must either have all the money or all the goods, so make sure you check any company out.

I will be collecting goods, listing them and shipping them from my home.

Thankyou xxx

forgotmyname

Dont pay for them until the ebay/paypal claim limit has passed to cover yourself fully.

If something breaks or a buyer claims the item is faulty within that time limit may cause you to lose out.

Pembroke

You may also have to be aware of the VAT registration threshold if the sale price is high.

kazwookie

Have you got room for 30,000 items? :rotfl:

Sounds like they want you to be their storage yard / stock room as well

Crowqueen

Pembroke wrote: »

You may also have to be aware of the VAT registration threshold if the sale price is high.

VAT threshhold is £70K pa (£17,500 per quarter), so if the OP is only getting £3,000 out of this (and is certain it's not a scam), then there's no need to worry about that aspect of it, though obviously combined with other trading income it's something to think about.

As a trading assistant you need to be registered as a business full stop though. Even if you are only making a few quid, you need to be following the rules on tax and consumer rights as a business seller.

Pembroke

Crowqueen wrote: »

VAT threshhold is £70K pa (£17,500 per quarter), so if the OP is only getting £3,000 out of this (and is certain it's not a scam), then there's no need to worry about that aspect of it, though obviously combined with other trading income it's something to think about.

Well actually I was thinking of it both ways. If the item is for sale at more than £2.34p and the 30,000 items is per year then that's over the £70,000 threshold and they will have to charge VAT on the item price (which if I remember Ebay rules has to be included in the advertised price) and if the item is selling for more that £23.40p the OP will have to charge the seller VAT on her fee as well.

Then in January the VAT amount charged increases (does the threshold increase as well ?). I think I would have employed an accountant a long time before then.

soolin

I agree that this is something that should go to an accountant as it could get complicated. Looking at it from an outsiders point of view, 30,000 items being sold in the name of an individual denotes turnover for that person. They hold the stock, they ship and they then pay the company x amount back . Yet all the actual trading is done in the name of the individual.