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New Ebay Seller, Is It Worth Upgrading to a Business Account?
bilal707
Posts: 5 Forumite
Hi guys,
Just have a quick question about the pro's and cons of upgrading to a business seller instead of a private one. I have reached my threshold of selling up to 3,500 pounds worth of goods in one month and need to know what the cost disadvantages are with having a business account.
Thanksss!
Just have a quick question about the pro's and cons of upgrading to a business seller instead of a private one. I have reached my threshold of selling up to 3,500 pounds worth of goods in one month and need to know what the cost disadvantages are with having a business account.
Thanksss!
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Comments
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Are you selling for profit? If so, you don't have a choice about whether or not to register.0
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As per campdave, you don't decide it is decided by whether you are selling your own personal items or buying /making to resell.
With the new fee structure, especially for shops, it can actually be advantageous to be a business. Yu will need to comply with all UK business regs as interpreted by eBay, ie have a returns policy and show your contact details on your listings.
With that sort of turnover as long as your account is in good standing you should aim to be a PS and then a TRS and then eligible premium listings will attract a discount on FVFs as well.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 -
Thanks for your answers guys, yes i am selling for profit campdave.
Are there any other regulations of listing as a business seller? or any other costs involved with selling an item?0 -
You will have to contact HMRC and register as a business with them, then you get to fill out a self assessment form and pay tax if you earn over £10.0000
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Okay thanks celestius, is that 10,000 per month or annum?0
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eBay didn't switch your account to business automatically after selling over 50 items in the same category like they normally do? Why is that?Warning: any unnecessary disclaimers appearing under my posts do not bear any connection with reality, either intended, accidental or otherwise. Your statutory rights are not affected.0
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If you have sold 3500 in less than a month you need to keep an eye on your turnover. If sales continue to build you may reach the VAT threshold and be obliged to register and collect VAT from your sales to pay HMRC.0
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ballisticbrian - because i havent sold over 50 items in the same category
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Because it didn't happen. Didn't think it was half term 'till next week.
ETA: Damn, lost my touchy-feel-y touch. Ermmmm, fluffy bunnies?They deem him their worst enemy who tells them the truth. -- Plato0
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