Quick question regarding ebay buying/selling

macfly

kid - I don't want to put you down, but I would drop the idea if I was you. If you think it may be wrong to buy something then sell it for more, business is not for you.

chemical.galaxy

Dantheyid wrote: »

This may be a stupid question, but i was wondering if it is legal to buy items from various websites or shops and then sell for a profit on ebay. For example Buying 10 items that are on sale, say half price in Tesco, then selling for more on ebay. (just an example, not expecting to profit from tesco items) Would i have to register myself as a business and pay tax etc? Just a newcomer don't hate on me!

Nothing illegal about it - register as a business, keep accurate accounts, don't use stock photos. Good luck!

paulc333

Whilst I understand the moral/legal responsibility to register with HMRC, what in reality are the chances of them "catching up" with the OP at the volume they are selling?

Surely there are far too many ebay sellers for HMRC to check??

Just a query, not advising not telling them as a way to go at all.

soolin

paulc333 wrote: »

Whilst I understand the moral/legal responsibility to register with HMRC, what in reality are the chances of them "catching up" with the OP at the volume they are selling?

Surely there are far too many ebay sellers for HMRC to check??

Just a query, not advising not telling them as a way to go at all.

With 20 items a month I suspect getting turned in is fairly,likely within a few years. Virtually all the people that have asked me for advice after getting caught by either HMRC or DWP were turned in by friends or family as you can't keep that sort of business quiet for long and people get jealous if they are legitimately paying their own taxes.

[Deleted User]

Surly the inland revenue only has to look at the feedback figures to know how much anybody is selling. A feedback of 1500 doesn't come from somebody clearing out a few items from home

soolin

shrimper1 wrote: »

Surly the inland revenue only has to look at the feedback figures to know how much anybody is selling. A feedback of 1500 doesn't come from somebody clearing out a few items from home

We did have HMRC posting here last year saying basically 'they were watching us', however I have always suspected they don't need to bother as friends and family seem more than happy to turn people in.

RFW

bizzy195 wrote: »

no i seen it advertised on facebook so i thought id take a look, but i do like the thought of giving some new businesses in life a chance,so thats the reason of me trying to drum up some business for them,as i have nothing else to do bar from go to bed

Interesting you found them on Facebook as they have only one like and nothing else on the page.
If you are going to spam forums to get business at least be honest about it. If you're unprepared for trading it doesn't look good when you encourage people to look for it. I'm out...

As for the OP anyone can buy to resell, there are some companies that don't want their brands sold online or on Ebay but not too many and they're usually at the high end.

Look online for advice on a business start up as that is what you are (even if you're planning on doing it for 5 minutes a week). There is lots of free advice out there and guidance how to set up a business and what your legal requirements are.