Vat issue with ebay

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  • Thanks all  . Hardly worth selling then,  20% tax 20% vat and 10% sellers fee.
    The government sure dont make it easy for businesses and they say they want to encourage us
  • soolin
    soolin Posts: 72,149 Ambassador
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    edited 28 December 2023 at 12:05AM
    Jazzguy1 said:
    Thanks all  . Hardly worth selling then,  20% tax 20% vat and 10% sellers fee.y
    The government sure dont make it easy for businesses and they say they want to encourage us
    If you have enough turnover to need to be VAT registered you can’t be doing that badly! Also of course you only pay tax on profits, and 20% is only the starting band anyway. 

    All these figures should be built into your business plan. 
    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.
  • Grumpy_chap
    Grumpy_chap Posts: 14,854 Forumite
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    soolin said:
    EDIT, I’ve just seen this thread which rather changes some of the advice I think 

    https://forums.moneysavingexpert.com/discussion/6480461/ebay-want-me-to-register-for-vat#latest

    For clarity was the business account selling autographs the same account as the one selling stamps and coins or a different account?

    Assuming you have an accountant for your autograph business, can they advise about the issue of selling off large expensive collections of items where some are private and some business?

    Ithink the fact that eBay requested you to upgrade to a business account for your business selling rather puts you in a difficult position now with a second and third large expensive collection being sold off, and you need proper professional assistance to untangle this. 
    The OP actually seems to have a third thread running on this topic:
    https://forums.moneysavingexpert.com/discussion/6494593/ebay-vat#latest

    I may be reading things incorrectly, but I am confused as to what eBay have said when, and whether the OP's turnover has exceeded the VAT-registration threshold through trying to put the various (at least three) threads into a coherent whole.
  • soolin
    soolin Posts: 72,149 Ambassador
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    soolin said:
    EDIT, I’ve just seen this thread which rather changes some of the advice I think 

    https://forums.moneysavingexpert.com/discussion/6480461/ebay-want-me-to-register-for-vat#latest

    For clarity was the business account selling autographs the same account as the one selling stamps and coins or a different account?

    Assuming you have an accountant for your autograph business, can they advise about the issue of selling off large expensive collections of items where some are private and some business?

    Ithink the fact that eBay requested you to upgrade to a business account for your business selling rather puts you in a difficult position now with a second and third large expensive collection being sold off, and you need proper professional assistance to untangle this. 
    The OP actually seems to have a third thread running on this topic:
    https://forums.moneysavingexpert.com/discussion/6494593/ebay-vat#latest

    I may be reading things incorrectly, but I am confused as to what eBay have said when, and whether the OP's turnover has exceeded the VAT-registration threshold through trying to put the various (at least three) threads into a coherent whole.
    Good spot, I’d missed that . 

    OP i know you rarely update your threads but it seems like you need some proper advice. If you are struggling g with the basics of running a business , having already run into issues with eBay, then it might be worth paying an accountant to talk you through with some basic advice. If you muddle through misunderstanding tax, costs and how to work out basic profit margins you could easily lose a lot of money. 


    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.
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