How much have you made from eBay?

MrMotivate

I use ebay to declutter my room, which I tend to do a couple of times a year. I never make too much, but every little helps ; ) I'm interested in becoming a business seller via ebay in the future though, just haven't decided when yet!

katy_ann

Ive just had a massive clear out as Im moving soon and made about £200 off of old clothes and handbags! Probably do this 2 or three times a year

lovinituk

Autumn86 wrote: »

None of those actions were comitted fraudulently actually..

As i didn't create false imaginary names or addresses for the sole purpose of evading hmrc/the benefits department being aware of the existence of various accounts.


I used to live at a certain address many many years ago,
and at that time i opened an ebay account, paypal account, and bank account for that address.

I also had a certain surname back then, and so i used that name when registering all those accounts.

(All fully legal actions)


I then moved to live at a different address,
and also decided to change my surname through deedpoll.

(Both fully legal actions again)


I now have merely declined from updating my name or address for various online retail service accounts, as i have no legal obligation to do so. :beer:

Wow you seriously need to re-evaluate your business setup mate..

Not declaring your earnings from the items you sell on ebay - FULLY ILLEGAL ACTION!!

Idiot!!

antrobus

Autumn86 wrote: »

...I then moved to live at a different address, and also decided to change my surname through deedpoll...I now have merely declined from updating my name or address for various online retail service accounts, as i have no legal obligation to do so.

That's odd, I was under the impression that changing your name by deed poll involved some formal declaration by which the signatory promised to 'absolutely renounce and abandon' their former name together with promise to use their new name 'at all times from now on in all records deeds and instruments'.

I'd have thought that by continuing to use your old name, and failing to update 'various online retail service accounts' your were guilty of perjury, as in falsely swearing an affidavit. You can get seven years for that. On top of what you might get for tax fraud.

helpaid

Getting a bit worried reading this thread. I sell things through Ebay also on a private account (mainly the kids outgrown clothes and other junk that I want rid of), but my Ebay/Paypal account is registered under my maiden surname as I have held this for many years and have never got round to sending in my marriage certificate and updating the bank account this is linked to.

Do I have to update my Ebay/Paypal accounts with my married name?

Also, have never declared my income (probably about £300 in last 12months) to Inland Revenue - not even sure how to go about this - will go and research but feeling sick that I might get into trouble for this.

Almo

helpaid, if you are selling your own stuff it's different. The problem with what Autumn86 is doing is that she's specifically buying things to sell them on, which makes her a business.

mrsyardbroom

I've sold loads of stuff on ebay but I've never made a huge profit from it. I've sold bits and pieces of clothing and shoes and I haven't counted this as income as I haven't made any profit on the original price. It was always a bit of a grey area when I worked for HMRC but generally if you sell something and make a profit you should pay tax. All those people you see on TV who bought an antique for 20p at a car boot and now it's selling for £5000 should pay tax on the income.

I have made and sold jewellery and I've also bought various items which I've sold for a profit. This has been declared in my accounts for HMRC.
I think I make more from being an ebay affiliate than from selling but this is probably because I don't list enough or set out to have a retail business. My earnings as an affiliate can very from under £1 a day to £11+ per day. Just looking at this month's figures I've earned £51 from 1st May to 11th May as an ebay affiliate.
I do know some people make quite a business out of retailing on ebay but you have to have the money to invest in stock and to know what to buy and where to buy it cheaply. It's very cut throat these days and whatever you sell you can nearly always find someone selling it cheaper.
Some people are finding it much cheaper to sell through their own websites as the charges on ebay and paypal are so expensive.
I know one person who avoids paying charges for processing payments by asking customers to transfer the payment directly to the bank, although they do have other payment methods such as cheques.

antrobus

helpaid wrote: »

Getting a bit worried reading this thread. I sell things through Ebay also on a private account (mainly the kids outgrown clothes and other junk that I want rid of), but my Ebay/Paypal account is registered under my maiden surname as I have held this for many years and have never got round to sending in my marriage certificate and updating the bank account this is linked to.

That's absolutely not a problem. You're quite entitled to use what ever name you want.

Take for example, oh, say Yvette Cooper, the Labour Party MP who still goes around calling herself 'Yvette Cooper' even though she is married to a certain Mr Ed Balls.

helpaid wrote: »

Do I have to update my Ebay/Paypal accounts with my married name?

No.

helpaid wrote: »

Also, have never declared my income (probably about £300 in last 12months) to Inland Revenue - not even sure how to go about this - will go and research but feeling sick that I might get into trouble for this.

Given that all you are doing is selling the kids outgrown clothes and other junk that you want rid of, there is no taxable income to declare, and you can absolutely stop worrying about HMRC.

antrobus

olivetti wrote: »

..HMRC have access to much more information than you are aware of, it is only a matter of time and the more you post about it the quicker it will happen.

In this particular case, HMRC would be looking for a 22 year old who failed to sign on at a job centre on the 9th March 2012 due to starting work on that date, but whose claim for JSA was ended on the 24th Febuary 2012 for various reasons, and was previously in receipt of housing benefit of £346 per month. That should narrow the criteria for the search on the DWP database in itself.

yonk

Autumn86 wrote: »

I keep all my income from ebay as personal private income.

No such thing as "private income", all income is notifiable to HMRC and taxable if over your personal allowances.