Cashback on Ebay fees

robindunne1

I do a lot of trading and have turned over £10,000 in the last couple of months. Have you ever noticed that Ebay won't let you pay fees with American Express cards? I think it is because they take a higher % of the transaction and Ebay aren't willing to swallow the fee. Bit of a bummer for me as I like to use my Amex card for cashback purposes. Anyway, there is a way to get round this. They will let you use your Paypal account to pay fees - which funnily enough allows you to attach an American Express card to it. In order to do this you have to empty your Paypal acocunt first otherwise your fee payment will simply be offset by what's in there and the rest taken off your card.

Might not make too much of a difference, but at the moment I'm running up a couple of hundred quid a month in fees and 1% of that adds up over the year.

Murtle

Word of warning on using American Express cards through paypal - is that they convert it to USD$ and charge you for the pleasure. Before converting it back again!

Not sure how much this is, I have done it a couple of time when paying for item in USD$.

seth

cash back not sure if this will help you?

fatboyonadiet

There is an article that gives details of all the cashback cards on offer

lipidicman

robindunne1 wrote:

I do a lot of trading and have turned over £10,000 ...

Wow, nice turnover figure! I hope the Inland Revenue know about this, or that Robin Dunne isnt your real name!

Murtle

turnover or profit though????!!!!

lipidicman

I am assuming turnover, as the OP said. It would be hard to turnover this month from stuff you own, as opposed to buying stuff to sell....which is trading

robindunne1

It's turnover, my profit is about 20% of that. I get around the tax issue by putting it all in my wifes name (she doesn't work and stays at home with the kids) her tax allowance just about covers any profits that I make.

lipidicman

Ah, I see. Not married, so these things never occur to me.

Andyblizz

robindunne1 wrote:

It's turnover, my profit is about 20% of that. I get around the tax issue by putting it all in my wifes name (she doesn't work and stays at home with the kids) her tax allowance just about covers any profits that I make.

Her tax allowance will be £4745, but if she receives any benefits/ other income this will be reduced.

Also if your turnover is above £10k every couple of month you may exceed the Vat limit which is £58k over any 12 month period. Or if you expect to go over that in next 12 months.

She will also have to be registered as Self Employeed, and have to Pay Class 2 National Insurance @ £2.05 p/w