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business or private?

trigirl1979
Posts: 356 Forumite
I have god a load of clothes etc. to sell off, thinking about using ebay. I reckon I will be selling about 50-60 items. Its not stuff I have bought to sell on, just a clear out. As it is quite a lot do I need to be a business seller.
Whats the threshold for private v business? I have noticed a lot of people i have bought for appear to be dealers but are private ebayers?
Whats the threshold for private v business? I have noticed a lot of people i have bought for appear to be dealers but are private ebayers?
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If it is your stuff then you are a private seller. However, having said that if ebay decide you need to upgrade then you will not be able to do anything about it and clothes often do trigger the compulsory upgrade email.
I would suggest starting slowly, list on a private account a few at a time and just keep under the radar. You don't look as though you have enough volume to come to ebays attention so you will probably be fine.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 -
Hi Guys,I have been using E Bay for some time now approx 7/8 years and over that time sold 350/400 items of designer clothing which i buy from factory disposal sales,in the past few weeks a few of my friends who do similar have had their accounts suspended.It is only a small earner so do i have to be classed as a business in E Bays terms and if so what are the implications.0
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For post no 3 not OP - If you buy something in order to sell it on and make a profit in doing so then that is a business - but your biggest worry should be the tax implication if you are over the threshold as (again I think) e-bay gives hmrc some details and they are a bit hard up at the moment and have said they are going to start doing more investigations - now that's much worse than having your e-bay account suspended :eek:
If you think you are too small to make a difference, try getting in bed with a mosquito!
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Best to do it private if it is just one off sale. Otherwise, you will need to pay certain fee to set up a company, renew the company yearly and also pay audit fee for accountant to certify your account. For that amount of transactions, I would avoid all these headaches with money and paperwork and go private0
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Otherwise, you will need to pay certain fee to set up a company, renew the company yearly and also pay audit fee for accountant to certify your account.0
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Hi Guys,I have been using E Bay for some time now approx 7/8 years and over that time sold 350/400 items of designer clothing which i buy from factory disposal sales,in the past few weeks a few of my friends who do similar have had their accounts suspended.It is only a small earner so do i have to be classed as a business in E Bays terms and if so what are the implications.
It is not only ebay that would class you as a business, you *are* a business and should be registered with HMRC. As for implications, you will be taxed if your income exceeds your tax allowances and you may well be due to pay NIC. Being 'caught' by ebay is not worth worrying baout, however being caught by HMRC is a real problem.Best to do it private if it is just one off sale. Otherwise, you will need to pay certain fee to set up a company, renew the company yearly and also pay audit fee for accountant to certify your account. For that amount of transactions, I would avoid all these headaches with money and paperwork and go private
As per the above post, no need at all to over complicate it. My books are still all done by hand in old fashioned books and submitted as a 3 line statement on my online tax return.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
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