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Ebay Sales

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    Can't believe there isn't a decent thread about selling on eBay in TSR. Oh well, you gota do whats gota be done. So a couple of questions: Do I have to pay tax even if I just sell 2 products a week (2 different products), maximum profit would be £50? And do I have to be 18 to buy and sell on eBay?

    Thnx for any help and hope this thread can be used in the future for any questions and answers about selling on eBay
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    I don't think you have to pay any tax unless you're making over about £10,000 per annum, from it ( if it's your only income source )
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    You're allowed to earn up to £8,105 per annum (tax year '12-'13) tax free.

    Although this would be all of your earnings so your ebay income AND any other income you might have (e.g. a part time job).

    http://www.hmrc.gov.uk/rates/it.htm
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    yeah, you don't have to pay. it's for big gamers only.
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    (Original post by cognito_08)
    You're allowed to earn up to £8,105 per annum (tax year '12-'13) tax free.

    Although this would be all of your earnings so your ebay income AND any other income you might have (e.g. a part time job).

    http://www.hmrc.gov.uk/rates/it.htm
    It's my only source of income, i'll be making about £50 profit, so it's basically just to keep me going for a week. I've heard that your not allowed to buy products and sell them on for profit, will eBay get suspicious because i'm planning to sell only two difference products (1 of each per week)? And am I allowed to buy and sell on eBay if I'm under 18 (will turn 17 in October)? And how will they find out if I'm under 18? Thnx for the reply
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    (Original post by noorul87)
    It's my only source of income, i'll be making about £50 profit, so it's basically just to keep me going for a week. I've heard that your not allowed to buy products and sell them on for profit, will eBay get suspicious because i'm planning to sell only two difference products (1 of each per week)? And am I allowed to buy and sell on eBay if I'm under 18 (will turn 17 in October)? And how will they find out if I'm under 18? Thnx for the reply
    My friend is 17 and buys and sells items on eBay. If you look up hair extensions. There are a lot of companies who clearly buy product in bulk and try and sell them on eBay. And nothing happens to them, a far as i know. So as long as you're not advertising, or making a big song and dance about it. It should be okay.

    Regarding the element of owning eBay account under the age of 18.
    I'm under 18, just about. And I have a paypal account, I used my mothers name and birth date, but used my bank details. And everything was fine.

    So just ask someone who is over 18 who you can trust. And open the paypal in their name but with your account details. But be careful I've read of cases where paypal closes down accounts, if they suspect it's being misused e.g a minor.
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    (Original post by alis-volatpropriis)
    My friend is 17 and buys and sells items on eBay. If you look up hair extensions. There are a lot of companies who clearly buy product in bulk and try and sell them on eBay. And nothing happens to them, a far as i know. So as long as you're not advertising, or making a big song and dance about it. It should be okay.

    Regarding the element of owning eBay account under the age of 18.
    I'm under 18, just about. And I have a paypal account, I used my mothers name and birth date, but used my bank details. And everything was fine.

    So just ask someone who is over 18 who you can trust. And open the paypal in their name but with your account details. But be careful I've read of cases where paypal closes down accounts, if they suspect it's being misused e.g a minor.
    I heard that if you get caught, they freeze your paypal and eBay accounts and your not allowed to use them in the future.. that true?
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    (Original post by noorul87)
    Can't believe there isn't a decent thread about selling on eBay in TSR. Oh well, you gota do whats gota be done. So a couple of questions: Do I have to pay tax even if I just sell 2 products a week (2 different products), maximum profit would be £50? And do I have to be 18 to buy and sell on eBay?

    Thnx for any help and hope this thread can be used in the future for any questions and answers about selling on eBay

    You have to pay the final value fees and if you are using PayPal then they take a percentage of money too! It's just VAT I think but you aren't paying tax unless you own an Ebay shop, then I think they pay some tax depending on how much they make etc..! Happy Ebaying, I am a bit of an addict to selling and buying there! xx
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    (Original post by --Lauren)
    You have to pay the final value fees and if you are using PayPal then they take a percentage of money too! It's just VAT I think but you aren't paying tax unless you own an Ebay shop, then I think they pay some tax depending on how much they make etc..! Happy Ebaying, I am a bit of an addict to selling and buying there! xx
    How old are you? I'm 16 (3months till 17)...I heard that your not allowed to use eBay and Paypal if your under 18. Any way to avoid this? Surely if I'm allowed to drive a car and buy a car and have a bank account, I should be able to use both services?
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    (Original post by noorul87)
    How old are you? I'm 16 (3months till 17)...I heard that your not allowed to use eBay and Paypal if your under 18. Any way to avoid this? Surely if I'm allowed to drive a car and buy a car and have a bank account, I should be able to use both services?
    I'm 19 and set up my Ebay in 2008!! I started selling when I was 16/17, using paypal and nobody has ever stopped me or mentioned anything. The worst that can happen is they can just deactivate your account.xx
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    Technically, you have to be 18 to open an eBay/PayPal account, but fortunately they don't verify your age (I opened my account when I was 16).

    You won't be charged tax unless you sell a LOT of stuff, but you'll still have to pay eBay and PayPal fees (e.g. listing fees and final value fees). It's worth establishing a fake business so that you can register as a business seller, as you'll save a lot of money in final value fees (just pretend you have a business registered at your home address).

    This was posted from The Student Room's Android App on my GT-I9100
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    http://pages.ebay.com/help/policies/...age-users.html

    Just found that, so if your parents are happy to have it in their name or a brother/sister? I didn't see this when I signed up, I must have lied about my age xx
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    I've just finished my first week on ebay and made a respectable £40ish quid from a couple of items (old clothes and shoes). Pretty impressed with the whole experience and i'll definitely be listing more soon! Not sure how it works with selling under 18 though i'm afraid.
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    (Original post by tallen90)
    Technically, you have to be 18 to open an eBay/PayPal account, but fortunately they don't verify your age (I opened my account when I was 16).

    You won't be charged tax unless you sell a LOT of stuff, but you'll still have to pay eBay and PayPal fees (e.g. listing fees and final value fees). It's worth establishing a fake business so that you can register as a business seller, as you'll save a lot of money in final value fees (just pretend you have a business registered at your home address).

    This was posted from The Student Room's Android App on my GT-I9100
    They ask for your date of birth upon registration..I assume they use that to determine your age? Well, 1995 isn't even listed
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    (Original post by noorul87)
    How old are you? I'm 16 (3months till 17)...I heard that your not allowed to use eBay and Paypal if your under 18. Any way to avoid this? Surely if I'm allowed to drive a car and buy a car and have a bank account, I should be able to use both services?
    I opened a paypal account when 14 on my details. They never did check my age even after verifying my account. I don't even remember if they ask for your age when signing up.

    I don't think they care much to be honest.
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    (Original post by noorul87)
    They ask for your date of birth upon registration..I assume they use that to determine your age? Well, 1995 isn't even listed
    Just lie. As far as eBay is concerned, I was born in 1989.
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    (Original post by tallen90)
    Just lie. As far as eBay is concerned, I was born in 1989.
    lol but don't they check with bank account?
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    (Original post by noorul87)
    lol but don't they check with bank account?
    Nope! Your bank doesn't just give away your personal details to anyone who asks :P

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