If you often sell items on eBay then you should consider the associated tax implications.
Ebay sellers fit into one of the following 3 categories:
1- You occasionally use eBay to sell on your old belongings.
You probably won’t need to declare any income to HMRC as you are unlikely to be considered “in business”.
2- You often sell goods on eBay for profit.
You most likely will be incurring income tax on the profits you make. Contact Tempo Accounting for advice for ebay traders.
3- You sell over £77K of goods per year on eBay.
In addition to declaring your income you should also be VAT registered. Contact Tempo Accounting for advice on your ebay business.
Also, you may have already formed a Limited Company. Limited companies have their own rules and regulations regarding tax and compliance but with good accounting advice this can be a simple and rewarding venture.
Tempo Accounting can help at every stage whether you are a sole trader, limited company or simply confused about where you currently stand! So, get in touch for a free, no obligation chat about your business.
Visit: www.ebayaccountants.co.uk or email: firstname.lastname@example.org for more information.
Justin 0203 137 6462