Starting Business account

sjh101

Hello 
In the process of starting up a business account on ebay to raise more funds. Just wondering if there were any tips and tricks I could use before I start up. I am aware of the different monthly shop subscriptions to get benefits. I think for the time being, not having a shop front and not paying even the basic £25 per month subscription would be best as at the minute I don't even have 50 items to sell. So would make more sense to just pay individual listing fees. 
Is there anything else I need to be aware of? 
Looking to do this legitimately but as cheap as possible. 

Thanks 

soolin

The basic shop is actually £30 after VAT and I think the cut off for cost saving is 90 listings, however if you look at fees on eBay ‘help’ it does break down the points at which a shop becomes the cheaper option. Currently BIN listings are 36p a go for a business, don’t bother paying for upgrades like auction with a BIN if you don’t need them. 

Remember you need a formal returns policy , it’s best to states that for your legally required change of mind returns buyer will need to pay return postage. 

sjh101

OK Thanks Soolin. Will check that out when I get chance. So there isn't an option to pay nothing atall? (Subscription wise) .Therefore if I were setting up a business account I would need to pay £30 per month at very minimum? Does this mean there is no free business account where you pay for listing fees etc? Thanks again. 

soolin

sjh101 said:

OK Thanks Soolin. Will check that out when I get chance. So there isn't an option to pay nothing atall? (Subscription wise) .Therefore if I were setting up a business account I would need to pay £30 per month at very minimum? Does this mean there is no free business account where you pay for listing fees etc? Thanks again. 

No, you can either pay for a shop, which starts at £30 PM and comes with 250 free BIN listings or you can pay 36 p per listing without a shop. You do not need a shop to be a business, you just need a business account . 

This is the link  I suggested you looked for, https://www.ebay.co.uk/help/selling/fees-credits-invoices/fees-business-sellers?id=4122&st=3&pos=2&query=Fees%20for%20business%20sellers&intent=Business%20fees&lucenceai=lucenceai

it covers all the fees for business with or without a shop, remember though that VAT needs to be added, hence the £25 shop actually costing £30. 

sjh101

Soolin. Dont suppose you know how long a person has, to contact HMRC and let them know about becoming  registered business on ebay. Would I have to alert them immediately after registering on ebay, or is there a time frame? 

Spoonie_Turtle

The following supposes you are not already self-employed or registered for self-asseasment:  You have to register with HMRC once you have a trading income (total income, not profit) of more than £1000; the time frame is some time during the following tax year after hitting that threshold.  You can of course register before that.
https://www.gov.uk/set-up-sole-trader

sjh101

Spoonie_Turtle said:

The following supposes you are not already self-employed or registered for self-asseasment:  You have to register with HMRC once you have a trading income (total income, not profit) of more than £1000; the time frame is some time during the following tax year after hitting that threshold.  You can of course register before that.
https://www.gov.uk/set-up-sole-trader

That's great. Thanks Spoonie. I'm currently only employed.