if i was to sell on ebay fulltime and use the income to live on.how does this effect the taxman?

would i have to declare some sort of evidence to how much your selling or is this not true...

thinking of selling fulltime but dnt want to get in the wrong side of the taxman as can sting you in the end!

any help gratefull

Replying to [alimartin888]:Yes, you would have to declare it to the taxman! You are running a business! How much tax you pay would depend on whether you're going to be registered as a sole trader or as a limited company. Not worth trying to dodge the taxman as they always catch up with you and then hit you hard!

Replying to [Afzal]:

dont you pay tax when selling somming on ebay, and if you are not registerd bussiness do you still have to declare

Replying to [Turk bussiness world]:

No, ebay doesn't charge you taxes.

Replying to [alimartin888]:

You have to pay your taxes in UK especially. But if you're a sole trader, make sure you have your VAT number so that if you were to import any goods, there won't be that much of a hassle..

But if you don't pay, the customs is not blind.. they sniff out even the smallest parcel that goes in and out of your country...

Replying to [alimartin888]:
First of all, in UK residents only will have to pay VAT + tax. If i'm going to buy from you from overseas. I don't have to pay VAT.
Kindly looked at ebay seller from UK. They probably will help u out.

Replying to [alimartin888]:
Don't quit your day job!!! Breaking into ebay as a Power Seller is not that easy. The biggest misconception is, its easy to sell on Ebay. If you have a product that is in demand and you can offer it cheaper than your competion you could be successful.

If your importing goods, the tax man has your number anyways. If your importing thousands upon thousands of dollars in products you may not get caught right off but when your caught then the penalties will be stiff.

Wouldnt you want to recover your VAT? US or UK conduct your business the right way.

Replying to [Turk bussiness world]: He is not allowed to cash tax when he is a private user on eBay. But he has to pay incometax when his incom is gettin to high

Replying to [ranger]:ok so if i continue my full time job in sales and then as side project sell 20/30 mobile phones a week, i could maybe dodge the tax if i am allready paying tax on my fulltime job.Is a bit dodgy, but im not going to register a business or register vat....

May get stung, but not as likely as if i was not earning any income atall.

Does anybody know anyone that has sold items on ebay and had to decalre tax on what there selling?

The UK sucks! I pay egnouth tax on alcohol,cigertettes,council tax,job lol!!!!

Cheers for help

Hello im in the same boat as you. After reading up on this topic on the customs and excise website i am pretty sure that as long as you keep your sales bellow £60,000 you do not have to pay any extra on your sales. So if you were to become a powerseller on ebay which is what i hope to become soon, make sure your sales are below this amount otherwise they will bend you over and shaft you. And gordan brown will use this money to buy another house!!

Replying to [alimartin888]:
ur taxes goes to on her majesty secret service
hth