Online income question

kevtrader

I'm thinking of doing some selling on ebay and I'm currently on benefits while off sick. If say, the turnover I get is at the same level as the money I get on benefits in 3 months time what would I need to do to keep on the right side of the law?


I haven't started anything yet but I'm just wondering.

Thanks

greenstreetprince

you would have to declare your earnings to the DWP, clearing out junk from the attic is not a problem as such, but purchasing items and selling them for profit is.

kevtrader

so if I was to start on Monday 6th and had £150 expenses and sold £900 worth in 3 months I would have to report to the DWP that the business began on 6th August? Would I have to pay NI as well?

greenstreetprince

No, you dont pay NI, NI is only paid on paid employment, not sure about income tax though

soolin

greenstreetprince wrote: »

No, you dont pay NI, NI is only paid on paid employment, not sure about income tax though

NI is payable on all paid income above a certain limit whether through PAYE or as a sole trader.

greenstreetprince

oooohhh, sorry bout that, thanx for correcting me soo

soolin

greenstreetprince wrote: »

oooohhh, sorry bout that, thanx for correcting me soo

It's complicated because the NI amounts due are different and the collection is different as well. It's all different 'classes' of NI.

kevtrader

Perhaps I should research it more before I actually think of selling on ebay or while I sell my possessions.