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FilthyRaider
regular
Reg'd: Thu
Posts: 543
Loc: It's dark very dark.......
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Re: Ebay Help Please - just starting out
Sun Feb 10 2008 08:55 PM
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Many thanks for the comment.
As usual I forgot something - KEEP receipts! This includes PayPal and eBay invoices for purchases and always get a receipt at the Post Office. Keep them in a big box file for each year. The IR actually don't go into these if you are below £15,000 pa, but they can if they want go back six years or so. Above £15,000 they MIGHT ask for them, but generally only if there are issues.
For sales: This is always a tough one. Do you print off everything or just mark it in a book/excel sheet? Actually the IR itself say the latter is fine. And remember that computer running costs can be offset against profit too.
You can of course use an accountant but frankly it is basic stuff when you get to ground level and the cost of an accountant is usually only worth it if they pick up on something you do not.
I'd recommend giving it a go, but make sure your service levels are impeccable. On the counter you can run it the way you want - we pursue non payers quite vigourously and set our own standards and terms.
Can you make a living at it? You have to be serious. Buy 100 of something, start selling, next time buy 1,000. After that 10,000? Oh, say goodbye to your spare room and get used to living with boxes!
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I loved my grandmother very much.......and she fetched a good price on eBay.
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