Selling Personal Stuff When you're a Business Seller?

WD40

Hi,

I've been an occasional Ebay user since 01 and have good feedback. I use it to sell excess stock for my business. Haven't ever really used Ebay for personal things. A couple of years ago, Ebay made all sellers declare whether they were 'personal' or 'business' - I declared businesss, obviously.

I work as a sole trader and am VAT registered. The Ebay + Paypal accounts are linked to my business account.

There are a load of personal things I need to sell. Do I:

a) Register a second Ebay account - and a second PayPal account

b) Sell through my business account, and just do the necessary ammendments to my business accounts?

"a" Is a pain as I'd need to build up a reputation, as well as jump through a lot of bureaucratic hoops

"b" Is easy, paperwork-wise. The only concern is that I'm 'personally registered for VAT'. If I sell something my gran bought me 20 years ago, will I be legally obliged to put VAT on it (meaning I lose 20%)?

Which option do you recommend? Thanks in advance.

Azari

I'd suggest asking the VAT people who will be able to tell you what precautions to take to avoid future complications.

You certainly don't have to charge VAT on everything just because you are registered for VAT. It would only become complicated if, for example, you were a jeweler and the item your granny gave you 20 years ago was jewelery.

macfly

You would be far better off opening another account. Much "cleaner" in that you don't have to sort out which paypal transactions to declare.

chancesare_2

I am VAT registered (Limited Company). I use one account to sell both business and private, but have a separate paypal account where I direct my private sales. I list them as NIL vat on the listing.

I personally use the Paypal business records for my VAT and accounts reporting as they are much clearer for recording purposes and the VAT office have thus far been more than satisfied.

Ebay records are (IMHO) not always accurate and rarely show refunds etc. They never give a true VAT reflection. As every single transaction I have goes through Paypal, those records are absolutely spot on.