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    Any Tax Kinda paople out there!! Ebay!

    Hi, Im having trouble getting through to HMRC, just wondered if anyone could help..

    I work Full time for the NHS, Im looking to buy to sell on Ebay in the new year, in my free time.

    This wont be a major income as such (£1000-£2000) a year, but understand I still have to register as self employed.
    and do a tax return form.

    Would I need to tell my Employer about this? Am I right in thinking that my tax code will not change (or my payrol getting involved) if I do a self assessment form each year?
    Do I only go on National insurance Class two if my profit is over £5,858. or is that income?

    If anyone can think of anything else please let me know, Cheers!

    15 Comments

    might be better looking at car boot sales or do ur shifts make that harder to do? just an idea as i have sold on ebay before mainly due to fees etc...

    1) Telling your employer may be required in your contract of service (employment contract) so you would need to check that.
    2) Your tax code should not change as the profit doesn't get taxed at source.
    3) 99% sure that it is profit not income in relation to NICs but im not a NIC expert.

    Cheers

    You can register online for self assesment. It is a legal requirement to do so within 3 months of start of self employment. your tax return can be submitted online too and national insurance contributions and any tax due is worked out when you submit. As you are on paye with your employment you fill in a short form re national insurance contribution
    Edited by: "quine" 1st Dec 2014

    Just some quick input regarding ebay, there are many threads over there on the forums if you want to have a look before starting off. There has been a very big noticable drop in buyers since Feb/Mar this year. Some have concluded it is a fallout between googles search results (they implemented a new search engine called Panda?), or ebays new cassini search engine giving stupid results. I think the buyers are just going elsewhere. Some sellers have described they feel sales are being manipulated by a "ON/OFF switch".
    All that, plus the new defects system, Managed returns system, Global Shipping program and argos click and collect service, ive seen many sellers close their shops. Others (even with 100% positive feedback have been kicked off ebay as their defect level was too high).

    Good luck!

    hillcraig87

    1) Telling your employer may be required in your contract of service … 1) Telling your employer may be required in your contract of service (employment contract) so you would need to check that.2) Your tax code should not change as the profit doesn't get taxed at source.3) 99% sure that it is profit not income in relation to NICs but im not a NIC expert.Cheers



    The above is all correct. Point 2, if you have a self employed tax liability, depending on the levels you can ask HMRC to adjust your tax code going forward to account for the liability, which saves you paying in one lump sum.

    ibblackberry1

    The above is all correct. Point 2, if you have a self employed tax … The above is all correct. Point 2, if you have a self employed tax liability, depending on the levels you can ask HMRC to adjust your tax code going forward to account for the liability, which saves you paying in one lump sum.



    Cheers - that's handy to know on tax code as cash flow is the number one issue for most traders

    Original Poster

    Thanks for that, hopefully not too much extra work

    Banned

    splatsplatsplat

    Just some quick input regarding ebay, there are many threads over there … Just some quick input regarding ebay, there are many threads over there on the forums if you want to have a look before starting off. There has been a very big noticable drop in buyers since Feb/Mar this year. Some have concluded it is a fallout between googles search results (they implemented a new search engine called Panda?), or ebays new cassini search engine giving stupid results. I think the buyers are just going elsewhere. Some sellers have described they feel sales are being manipulated by a "ON/OFF switch".All that, plus the new defects system, Managed returns system, Global Shipping program and argos click and collect service, ive seen many sellers close their shops. Others (even with 100% positive feedback have been kicked off ebay as their defect level was too high).Good luck!



    I actually think eBay do run it like having an off/on switch I think they let the average seller make their fees and an extra £10 then they flick the switch and you hardly make anymore until the next month

    Banned

    Normalaka

    Thanks for that, hopefully not too much extra work



    What you going to sell?

    Banned

    bazzamone

    What you going to sell?



    Nose plugs, for nosey people.

    Banned

    maxim24

    Nose plugs, for nosey people.



    Yeah sorry I just thought if I knew any suppliers of items Normalaka was wanting to sell I'd let him/her no.

    No need for the silly comment is there?

    Banned

    bazzamone

    Yeah sorry I just thought if I knew any suppliers of items Normalaka was … Yeah sorry I just thought if I knew any suppliers of items Normalaka was wanting to sell I'd let him/her no.No need for the silly comment is there?



    I hope you will pay tax on your middle man gains.

    Banned

    maxim24

    I hope you will pay tax on your middle man gains.



    What giving someone a link is middle man gains? Some people earn enough to not try and gain from helping others. Obviously some don't earn enough and have to try and profit where they can, don't beat yourself up about it.

    Banned

    If you give me your NI number & Bank account details, I will gladly look into this for you.

    Original Poster

    Hi Thanks,

    I will be selling greeting cards, Ive bought and sold the odd one (surplus to my personal use of course!) and believe that on a larger scale I could make an extra income. Thanks for any advice
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