£2015 in 2015

motorguy

katykicker wrote: »

Just a curious question really, are you deducting the money you spend back from your total? Or are you just adding money on after it goes over what you spent on the stock?

The £81.49 i've made so far has just been selling household stuff and old books but the stuff that i have on ebay auction finishing sunday night was part of the first £90 stock purchase (the other batches havent arrived yet), and i'll be adding in just the net profit (i've sold 3 items out of it on buy it now auctions, but i'll be adding those in to the total after the auctions end).

Any postage fees will come out of the postage amounts on top of the winning auction bid, and any postage charges (jiffy bags or bubble wrap) will be apportioned accordingly.

ie, if it all sells for £180 - fees of say £40, then i'll have returned £140 on the £90 i bought stock with, so i'll be adding on the £50 to my running total. If i've got my postage costs wrong then i'll deduct the excess amount from my profit and readjust the postage costs for next time for that type of item

I've a big spreadsheet set up of it all with all my costs included, all of my sales included and a note of what stock batch each sale relates to.

motorguy

Am i working outside "the rules" here in terms of buying to resell?

Is the general thinking that ebay selling means just household stuff or is it stuff you might buy to resell?

Happy to exclude it and just treat it as my little side project....

DD265

Hi Paul

For me any money that you make additional to regular income (e.g. salary, benefits etc) can be classed as boosting your income. I hope it pays off for you

I'm up to £113.07/£2015 so far. I have used £100 of that to make an over payment on a credit card; the rest will sit in my PayPal account until I've built up another £100, then another over payment and so on.

Foodie1

I'd love to join in too if that's OK? I signed up to Toluna the other day and just realised how many points are needed for £15 at Tesco / Sainsbury's - don't think I will ever get there on my own, would just give up! Being part of this might help!

asajj

motorguy wrote: »

Am i working outside "the rules" here in terms of buying to resell?

Is the general thinking that ebay selling means just household stuff or is it stuff you might buy to resell?

Happy to exclude it and just treat it as my little side project....

I think you'd need to add your "profit" rather than "turnover"

So if you buy an item for £10 then sell for £20 - then your extra income here would be £10 but i might be wrong ;p

motorguy

asajj wrote: »

I think you'd need to add your "profit" rather than "turnover"

So if you buy an item for £10 then sell for £20 - then your extra income here would be £10 but i might be wrong ;p

Oh aye, would only be adding profit, not turnover.

System

There are no rules here at all as far as I know? No rules on when to post, what you count as your extra £2015. I know from past years people have included money saved using coupons and things. I didn't include that last year but I did work it out and saved £700.

I only asked because I was thinking of doing a little buying and selling. Sometimes my brain gets a big foggy but you've explained it perfectly, thanks. Sounds like you've got a great sideline there and I wish you all the best

The only other thing I would say to consider is how many listings eBay allow a month now, if there is a limit on personal accounts. Also buying and selling makes you a trader etc and you'd need to declare your money to HMRC or risk getting into trouble.

motorguy

katykicker wrote: »

The only other thing I would say to consider is how many listings eBay allow a month now, if there is a limit on personal accounts. Also buying and selling makes you a trader etc and you'd need to declare your money to HMRC or risk getting into trouble.

Yes, i already have an accountant i use so i'll leave that for him to sort out.

motorguy

katykicker wrote: »

There are no rules here at all as far as I know? No rules on when to post, what you count as your extra £2015. I know from past years people have included money saved using coupons and things. I didn't include that last year but I did work it out and saved £700.

I only asked because I was thinking of doing a little buying and selling. Sometimes my brain gets a big foggy but you've explained it perfectly, thanks. Sounds like you've got a great sideline there and I wish you all the best

Well i'll know better in a couple of weeks if its a flyer or not. There is a wealth of the product i am buying about at the moment, so prices are cheap, but i'm expecting that to dry up a bit in a couple of months. If that happens and prices rise then margins wouldnt be as appealing. Will have to wait and see.

I'm viewing it as extra income i wouldnt otherwise have if i didnt make the effort to do it.

^!£$&

sign me up please xxx