Seeking Advice on Selling Used Phones on eBay: Tax and Registration Questions”
Hi everyone,
I hope you're doing well. I'm about to start selling used mobile phones on eBay, and as this is my first time, I have a few questions regarding the legal and tax aspects of this business:
1. Do I need to register with the government from the beginning to track my spending and income, even if the business is just starting out and may not take off immediately?
2. Would this type of selling be considered a freelance job in the eyes of the government, or does it fall under a different category for tax purposes?
3. If I start making more than £1,000 after some time, what steps should I take to ensure I'm compliant with tax regulations?
4. In the event that the business doesn’t perform well, what steps would I need to follow to close it or manage any tax obligations?
I’d really appreciate any advice or guidance you can share. Thank you in advance!
Best regards,
Massimiliano Taddei
I hope you're doing well. I'm about to start selling used mobile phones on eBay, and as this is my first time, I have a few questions regarding the legal and tax aspects of this business:
1. Do I need to register with the government from the beginning to track my spending and income, even if the business is just starting out and may not take off immediately?
2. Would this type of selling be considered a freelance job in the eyes of the government, or does it fall under a different category for tax purposes?
3. If I start making more than £1,000 after some time, what steps should I take to ensure I'm compliant with tax regulations?
4. In the event that the business doesn’t perform well, what steps would I need to follow to close it or manage any tax obligations?
I’d really appreciate any advice or guidance you can share. Thank you in advance!
Best regards,
Massimiliano Taddei
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