Author Topic: For those selling a lot on Ebay - Beware (Read 1416 times)

Jacqui Harvey · « **on:** July 06, 2011, 15:44:14 PM »

I have just read that H.M.Customs & Excise are going to crack down on British people who are selling a lot on Ebay without declaring they are running businesses or making large profits.
As from 1st August Ebay are going to hand over records of members names, addresses, phone numbers, user names and records of sales and amounts that have been made as profits.
There will be an amnesty for sellers until the 1st August where if a seller declares to the Tax people the profits he/she has made on Ebay only 10% tax will be charged. If sellers don't tell, the tax charges between 35% and 100% will be made, with no redress.
Apparently, the Tax people in Australia and Canada have recently done this with a lot of success.

Scunner · « **Reply #1 on:** July 06, 2011, 16:01:59 PM »

I have also heard this and perhaps more worrying, I have also heard that the taxman denies the whole thing. So they are definitely doing it then

Jacqui Harvey · « **Reply #2 on:** July 06, 2011, 16:06:14 PM »

I read it in the Antiques Trade Gazette today, and they are a very well respected publication and I don't think they would print something that was not fact.
It's also on-line on their website..
http://www.antiquestradegazette.com/news/7955.aspx

Scunner · « **Reply #3 on:** July 06, 2011, 16:21:04 PM »

Oh I don't doubt it's true

Fair enough really, Ebay is a way of doing business to many rather than an individual selling a few bits - it's not a tax free way to make a living. Glad I don't sell on Ebay though!

stoop · « **Reply #4 on:** July 06, 2011, 18:46:18 PM »

If you buy to sell on for a profit you should be registered as a business - ebay or anywhere really.

About time they cracked down on this as many many traders get away without paying their dues.

Jacqui Harvey · « **Reply #5 on:** July 06, 2011, 19:31:39 PM »

Could not agree more. If I pay my taxes and my Accountant's fees I think everyone else in business should do the same!!

puma · « **Reply #6 on:** July 06, 2011, 19:41:17 PM »

blimey they will be after the car booters next

stoop · « **Reply #7 on:** July 06, 2011, 23:07:17 PM »

Puma - if by car booters you mean the people who raid their attic and sell there items then no way - that's OK. However if you mean the many traders that use boot sales then I hope so (many of them are watched anyway).

Ovacikpeedoff · « **Reply #8 on:** July 07, 2011, 02:00:39 AM »

There are some people selling on Ebay who are not only dodging tax on profits made but are also avoiding paying VAT.The issue on VAT has been under discussion for a number of years and it was only a matter of time before the Revenue were going to jump on these individuals. Tighter control by the Revenue and the large rise in fees for selling could be the start of the end of the popularity of ebay.

I have been using ebay for years to buy all my golf equipment and clothes. Designer polo shirts for 25% of the price that I would pay on the high street. Luckily, I have never been sold fakes.

stoop · « **Reply #9 on:** July 07, 2011, 13:11:54 PM »

I just wish they would clamp down on all the Chinese rubbish.

Author Topic: For those selling a lot on Ebay - Beware (Read 1416 times)

Share me