Calis Beach and Fethiye Turkey Discussion Forum
General Topics => All things that have nothing to do with Turkey => Topic started by: Karennina on April 29, 2012, 13:14:57 PM
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Are there many CBF's who sell on Ebay? When I was listing something earlier I noticed a banner on the site saying something about "let us know before we come to you" surely we will not have to pay tax on selling random items.
Grateful if anyone knows anything about this :)
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Hi Karen, yes I do bit of selling on ebay and just logged in to see if I could see the banner you mentioned. Didn't see it but pretty sure it's aimed at people who buy and sell for a profit, and certainly those that class themselves as business sellers, which is considered income so therefore should be taxable. If you're selling your own bits and pieces when you're having a bit of a clearout then it's not considered income so not taxable.
I'm pretty sure I've seen this rear it's head several times over the years and think I'm right in what I've said. But, if you want to check and trawl through ebay's selling regulations :o, then you'll probably find it somewhere! :)
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Yes, there are some ebayers shifting lorryloads of stuff daily who don't think tax applies if you sell on Ebay. I've heard that HMRC are targeting the UK sellers with ratings into thousands - actually buying from them, then coming to see them [:o]
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There are individuals and companies selling on Ebay where their income exceeds VAT registration thresholds and the individuals should be registered. The tax revenue be avoided amounts to many millions.
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Thanks for replies, I tend to just sell maybe one thing a week but the account was registered many years ago as a business though it defo isn't. will I have to declare that for one item normally get between £20 or £30 that is it, defo not selling lorry loads:Dalso does anyone know whether it is from this tax year or years gone by[?]
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It's not you they are after Karen ;)
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Totally agree with Scunner. If you were one of the big traders Customs have the right to go back as far as they want and it is not governed by the statuate of limitation.
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Just change your status to private from business. I think you need to email eBay and they will sort it for you. They will ask the date you stopped business trading.
I did this last year and also have another personal account which I used to sell my own bits and bobs when I had the business. It kept things separate - especially from a feedback point.
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Oh I did not know you could change back Stoop, I will look into that with Ebay many thanks as always:D
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There were rumours that HMRC would accept 10% of the actually tax liability of big time Ebayers if they made the first contact, but would be looking to cane those that didn't take that offer. The figures are absolutely enormous - when you wonder how you can get most things cheaper on ebay, this is often a big part of the reason why. If you watch the people you (as a private individual) buy from, their rating can go up by 100 in a single day - that's a lot of tax avoidance.
I buy on ebay, I'm not much of a seller, and to be honest even as a self employed person I wouldn't even think to declare my activities in my tax return, pretty much like I wouldn't declare the profit from selling my old tat at a car boot sale either.
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Just by chance i was reading an article today about a tax fraud that an individual was doing using Ebay. He had a business turnover in excess of £1.5m a year and was not registered for VAT. He was selling on electrical goods by buying them off the continent tax free and selling them on at a profit. Because he was notpaying any tax he was able to undersell any competitor. These are the guys that they after.
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If you buy to sell on then they class you as a trader and you should have a business account and declare it in your tax return. Unfortunately many don't and if the tax man catches them .......