ebay selling

[bingocrazy]

Hi there i was wondering if anyone can help me, i have managed to set up my account with ebay and paypal now (thanks for everyones help) but i am now having more trouble i went to sell something on ebay and when i did this it said i can sell up to 10 things a month or upto the value of £650, is this the same for everyone or have i done something wrong? also what is the monthly cost for this?

[cazmanian_minx]

It's because you're a new account - once you've been selling for a few months you'll be able to list as many items as you want. You only pay for what you put on, there's no monthly fee unless you register as a business seller and decide to have a shop. You'll pay a listing fee (unless it's an auction starting at 99p or less), a final value fee (10% of the final bid in most cases) and the PayPal fees (20p + 3.4% of the transaction amount).

[lisagrace]

as a bit of a side note, the government have said recently that they are going to introduce income tax on items sold on ebay

[Bobinovich]

The government aren't going to be going after ordinary people getting rid of their stuff, but are targetting small businesses & others using it for commercial purposes (http://www.telegraph.co.uk/finance/yourbusiness/8573216/HMRC-targets-eBay-tax-dodgers.html).

[bingocrazy]

Thank you :)

[sids]

There's always been income tax on profit from traders' sales, hasn't there?

[highland red]

There's always been income tax on profit from traders' sales, hasn't there?
I don't know much about income tax, but trade, is trade and always has been either National (and even more so) Internationally. Anyone that purchases "goods" from outside the EU is liable to any taxes and duties that are dependant on the type of goods and which country is involved.

Also if you are selling on Ebay and you should you get a bid from someone outside The EU, and enter into an agreement with a vendor it may just be pertinent to make them aware of this( if only for less hassle in future). As regards income tax, I must agree with sids here and say that "trade" is trade and even if as some of the guys on here say that HMRC aren't going to be targeting private individuals getting rid of stuff he is probably correct in this. But what might just be worth bearing in mind is that even though you may only just be doing a small amount of "trade" and you are never likely to be targeted, you may still find youself "LIABLE" for taxes.

I've just re-read what I've written here and it sounds very high handed: it isn't meant to. My background in my previous life was in this field, and if I can help please PM me.

regards.

[cazmanian_minx]

Before we scare the OP off eBay completely, I think s/he is only wanting to sell their own personal belongings on it and that won't be liable for tax.