The Accidental Smallholder Forum
Community => Coffee Lounge => Topic started by: princesspiggy on March 13, 2012, 01:35:55 pm
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today wev sold -
hebridean fleeces, goose and guinea fowl feathers, deer and fox skulls and rabbit skins... :D :D
what do u sell?
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I have only used it for selling recently to get rid of a few things prior to moving.
I sold a dining table and chairs and a trouser press. Not bad considering I was going to give them away to freecycle
Sally
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do you know you can now sell live stock on e-bay.
I sell my knitting needles, fleeces and felted items.
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I didn't know that about livestock!
I used to sell soap but only do that via my website now. I think I will be selling some old baby clothes soon though, only so long you can hold onto them and hoard ;)
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I didn't know until about a week ago a friend had noticed it
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right, I'm listing Tony on there now...
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I don't know if he will quite fit the criteria ;)
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does anyone sell hatching eggs on there? i remember reading an article in a poultry magazine condemning the idea but its not the same as selling puppies in a shop window (which they still do in australia :o :o ) is it?
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I have bought some lovely hatching eggs from e-bay as yet have never sold any may do this year as I have a lovely flock of marans now that are blinking good layers
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We sold a whole landrover piece by piece! But I am afraid I think internet blind selling livestock or pets should be banned by law.
My daughter buys cheap branded clothes from charity shops and sells them on ebay, she made £40.00 this week alone .
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childrens' games last year, Nintendo even the old ones still sell well and lots of Polly Pocket castles, some dvds, branded shoes in good condition ;D :&>
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i sold lots of clothing from the sunday car boots and charity shops, my star buy was a posh handbag, I bought for £1 and sold for £17, forgot what make but it was something like channel!!! I sold clothing as its easy to pack and will not break but I would love to sell more but not sure what? I concentrated on designer names and the postage usualy covered all my costs. Some one I knew used to buy stuff and put zips in for punk clothing and she sold loads. We sold our 1972 VW camper and was very mad when a silly guest wanted more drinking chocolate for his room at the critical point!!
I still have a few things that did not sell but they are all too small for me!!
I had a coupld of Deer skulls until the dog ate them!!!! We have bought so much from E Bay, cars, clothing, a lot of furniture and
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I started using ebay in 1999 when I used to dabble in the antiques trade. Did well until the US buyers got the jitters after 9/11. Since then have bought and sold many vehicles and even more parts of vehicles, lots of smallholding type stuff and most recently have been buying and selling hatching eggs. It's a bit up and down with prices but it's a handy way to get a few quid in. It's not always a cheap place to buy stuff though.
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OK someone post a link to any livestock on ebay then?
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Depends what you call livestock? I have bought stick insects and giant african land snails from ebay. You can also buy fish but they are very expensive. I bought hatching eggs last year. They all hatched. I was pleased and surprised.
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I sold a few bit on ebay when we did the self build - all the stuff over or that I bought incorrectly - better than going to waste and I buy clothes off ebay, boots and fleeces of the makes I know so no worry on the sizing - good fun
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My son breeds fish and sells them on Ebay, he also makes food for water snails. He used to breed snails and sell them but there's not such a market for them now and he lost all his breeding stock overnight a short time ago. I think it can be addictive,
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EBAY CITY 3 GUMTREE UNITED 6
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Zilch, rien, nichts
I have never even opened e-bay ( or facebook) but I hear that you can sell anythingon e-bay.
heard of peole on benefits makng a fortne buying and seling on stuff via e-bay.
Do you have to pay tax on e-bay profit ?
I knew of a woman who bought disney fluffy toils from the USA and sold them for a massive profit on e-bay. Her front room was like a factory with boxes, tape and packing everywhere.
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I sold a caravan awning and other accessoriis but didn't get what I wanted for them. Bought loads of stuff. Been looking at knitting yarn but it goes for quite a high price.
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Do you have to pay tax on e-bay profit ?
Yes, you are supposed to pay tax on ANY and ALL income in the UK, and the HMRC do random checks too. My son submits an annual self assessment form as well as paying PAYE on his salary at work. So you should keep records of purchase price/value, sale price, date of sale and purchase, any other expenses - it's the net figure that is taxable but if you don't have those details and the HMRC catch up with you they will hammer you for tax on the sales values as they are traceable on eBay. Ebay cooperate fully with HMRC.
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The stuff that I sold payed for stuff I bought as I left money in Pay Pal, I stopped buying off E Bay as I found it hard to change payment methods, both me and my husband had our seperate cards registered on Pay Pal but he had his bank details, so everything I bought came out of his bank account and not my card, no idea of how to change that and before anyone says its easy, I even rang E Bay and its not that easy so I try not to use it unless I put the money in my husbands account, we live on a tight budget and his wage pays the morgage and his train fare so extra outgoings hurt!!!!
E Bay is great fun though and fantastic for people with mobility issues, I used to love shopping but am finding it harder and harder due to back issues, whats nicer than browsing for stuff and having a parcel arrive, we ordered loads of things that have arrived the next day, that ALWAYS impresses me!!!!! IF, I had money now I would be on there!!!
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e bay will be the next thing hmrc will look at on the e bay accounts or paypal if buying the payment is instantaneous if selling they hold on to your money for a few weeks before lodging in your bank also the costs are quite high :farmer:
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The stuff that I sold payed for stuff I bought as I left money in Pay Pal, I stopped buying off E Bay as I found it hard to change payment methods, both me and my husband had our seperate cards registered on Pay Pal but he had his bank details, so everything I bought came out of his bank account and not my card, no idea of how to change that and before anyone says its easy, I even rang E Bay and its not that easy so I try not to use it unless I put the money in my husbands account, we live on a tight budget and his wage pays the morgage and his train fare so extra outgoings hurt!!!!
u can link more than one bank account to your ebay account, then can choose where money comes from and goes in.
after the first account, u usually need to verify the 2nd or more accounts (probly cos of money laundering etc), and to do that u need to confirm it online with paypal when u add extra bank account. they then send u money on a certain day ie 6p on the 10th march, and u have to tell paypal these figures (6p, 10/ 3/ 2012) within a week or so, which proves u r the bank account holder. its not hard but it took me 2 attempts to do it have the patience to do it properly. then they activate ur other bank account.
there r business accounts on ebay but i havent got that far yet.
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Thanks for that, I gave up after several attempts, next time I have money I will have a go....no worry with the TAX man here, if we earnt more than we declaired we would certainly have more than we have!!!! Just cleared out Tax bill up to date thankfuly!!
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Usually electronics I discover I don't really need :P Not much else though, I have sold about 10 things orso, although I have been registered there for 8 years I think :o
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Thanks for the heads up re e-bay and tax.
I reckon the HMRC will really start to rake in the £s from e-bay as it must be a massive source of Tax revenue or at least they can rake make benefits from those who earn more than x£ from e-bay.
Glad I have never used it now.
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not quite as massive as some bankers.... :&>
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yes true - their earnings are immoral too. If you run an e-bay business from home then you should pay tax - especially if you are on benefits.
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Thanks for the heads up re e-bay and tax.
I reckon the HMRC will really start to rake in the £s from e-bay as it must be a massive source of Tax revenue or at least they can rake make benefits from those who earn more than x£ from e-bay.
Glad I have never used it now.
Don't fear selling on sites such as Ebay - keep records and you will probably find that you don't make any profit anyway. Remember, it's the NET figure that is taxed - for instance, say you bought a coat 10 years ago for say £25 and don't wear it any more but it's still, serviceable, then sell it on ebay for £5 plus £3 p & p - you've actually made a loss of £17!!! All your figures are added together for that tax year to 5th April so you could have either a profit or a loss over the whole year.
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It doesn't matter if it's ebay, a car boot sale or if you've got a string of department stores around the world. If you're in business you're liable for tax on your profits. Just because of the convenience of selling on ebay lots of people do make considerable sums of money and think they can get away with it. The revenue man is well aware of this and has been for a long time. Especially people on the dole with hundreds of items listed on ebay.
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If you're in business.....
Aye, but that's the key isn't it?
I traded in my car a month ago, but kept the winter tyres, which I flogged on Fleabay. OK, so I made a loss overall because they were used, but say I'd broken even, or even made a small profit, does that mean I'm in business and should therefore declare it?
I always thought that the distinction was whether you were buying or making the goods in the first place, with the intention of selling them on. Is that correct though, or not?
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Now selling your used stuff is difficult to put a tax on as you have bought it at a cost, used it then sold it on so its not actualy profit just money back surely??
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im thinking u can earn up to £7 pa without declaring it? or paying tax on it.
it will take a few fair fox skulls to make a profit, bearing in mind i had to buy the woodlands first...lol
;D ;D
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There are a lot of misconceptions here - Whatever you sell has a value - whether purchased yesterday or a hundred years ago. The selling price, minus that value, and any associated costs is what you would be taxed on, regardless of whether it is £7 or £107, and whether you are a registered business or not.
For example, I am not in business, I am retired, I have numerous paintings that John bought some years ago. They were valued for his estate when he died. If I now sold them for more than that value I would expect to pay tax on the difference less any costs I incurred in selling them.
Each individual transaction is not taken on its own - the total sales, expenditure, and purchases figures in any year from 6th April to 5th April are added up and the profit (or loss) is then calculated.
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Thanks for that Annie.
How about this one then? So far this year, our holding has had an income of £119, vs expenditure of £400 on animal feed etc, and £250 on capital items. (This time next year Rodney.......)
Does that mean I can offset the loss against my taxable income at the end of the year? And I suppose the question is, if not, why not?! ;D
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Yes, ask for a self assessment form.
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vs expenditure of £400 on animal feed etc,
i sooo wish that was us!!! our feed bills makes u break out in a sweat! :o :o :o
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And, if I bought a new dress @£30 but did not like it so sold it for £10 or less the next day on E Bay?
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in my opinion business is business. a hobby is a hobby. one pays tax and insurance and the other doesnt. clothing for business can go thru the books the same as other expenses.
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I guess that's the problem Princesspiggy, when is it a hobby, and when is it a (rather poor) business? I already do a self assessment, but have always put down 'other income' as zero, rather than £-500! It's certainly a bit of a minefield - Tax needn't be taxing eh? ::)
i sooo wish that was us!!! our feed bills makes u break out in a sweat! :o :o :o
To be fair, we've still got a chest freezer full from that lot, which will keep us going a wee while longer. The scary thing is that this is the first time we've kept proper records of income / expenditure, and it's very quickly become apparent that we need to keep working to support this lifestyle, rather than have the lifestyle support us!! ;D
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I guess that's the problem Princesspiggy, when is it a hobby, and when is it a (rather poor) business?
id say when u start advertising stock/services etc then u need business insurance and need to do a tax return etc.
depends on ur perspective if profit is abit awol. ::) ::)
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And, if I bought a new dress @£30 but did not like it so sold it for £10 or less the next day on E Bay?
You'd be a bit silly! ;D
But in theory, at least, you could deduct the loss from your profits in a business or other taxable income - download a self assessment form as I said!
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If you are only selling the odd item from time to time then it wouldn't necessarily be classed as a business by HMRC, but if you have a regularly used account with Ebay or other such internet sites then you do need to keep records. HMRC have been watching car boot sales for years. I had a client up north who had a small antiques business, and when the rent on his shop sky-rocketed he gave it up and concentrated on smaller items and going to boot sales - HMRC caught up VERY quickly and he asked me to help him at that point, to sort out an HMRC investigation. We succeeded! :thumbsup:
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I got interrupted when putting my post and I doubt that would ever happen to me, I am more likely to buy a dress off e bay anyway!
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Dognjo, how do you know so much? were you an accountant or something similar?
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Dognjo, how do you know so much? were you an accountant or something similar?
Yup! for 40 years!
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My father in law was a farmer and never rich in money terms until he died!!! He used to have Dr neighbout who as he said "plaed at farming" but he had a good income to support him.....it must be so hard to live off the land without a back up job, some people are fortunate to have the time and a good job to back them up whereas a lot who like the idea have to find other ways of making money for the TAX man, my brother,just retired has a very small private pension.....he was asked if he wanted the lump sum or payed yearly, somethiing like £30 a year, so he took the lump sum and its now taxed and his state pension reduced!!!
THe personal allowance is going up in April so we can earn more without tax as currently if I work a few hours I end up paying a lot more TAX.
http://www.moneymagpie.com/article/making-extra-money-do-i-have-to-pay-extra-tax (http://www.moneymagpie.com/article/making-extra-money-do-i-have-to-pay-extra-tax)
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I never knew any farners who admitted to being rich in moeny terms ;D ;D ;D And I met quite a few in my working lief!
Quite a good site and good advice on contacting HMRC local office sooner rather than later if you are in any doubt. They really re much more approachable nowadays! ;D
Tax payable is a percentage after the deduction of your personal allowance, so if you earn £100 more than before you will pay the same percentage tax on that £100 as on the previous £100.
eg for the current year to 5th April 2012
Total income £10000, as earned up to 16th March
Personal allowance for the whole year £7475
Taxable income is therefore £2525 taxed at @ 20% = £505, so you are left with £9495 up to 16th March
If you earn £1000 from 17th March to 5th April you would pay tax of £200 on it at 20%, so all in all you have earned £11000, paid tax of £705, and have a net income after tax of £10295 The extra tax is 20% on whatever is earned - it does NOT increase proportionally
Then there is National Insurance but I won;'t go into that just now as it is much more complicated.
And this is EXACTLY what I have said previously - USING eBay (http://www.accidentalsmallholder.net/goto/ebay/)
All that seems very clear and simple, but then it gets a bit trickier. For those who use eBay (http://www.accidentalsmallholder.net/goto/ebay/), or other listings sites, to make extra money it can be difficult to distinguish between using the site to earn an income and using it merely to get rid of some junk. As Jane Moore from the Institute of Chartered Accountants puts it: “Cash in the attic is not taxable, but the Revenue will know the difference between a clear-out and a small business.”
So if you are selling on unwanted items every now and then, in theory you are liable to be taxed on any profits, but usually small earnings will be ignored.
However, if you start to buy products to then sell on, or you are regularly selling large amounts of your possessions the rules change. Again, if your profits using listing sites or classified adverts, plus any other income/salary, do not exceed the £7,475 personal allowance in one year, you do not have to pay tax. But, if you make profits that exceed your personal allowance, or are an income on top of any salary or any other money-making, you should be declaring them as they are taxable.
Regularly buying items to sell on at a profit on eBay (http://www.accidentalsmallholder.net/goto/ebay/) or other sites is in effect a small business, and so it is very important to keep a tab on profits and maintain clear records, including receipts of all your expenses which can be put against your profits for taxable purposes. This way, HM Revenue and Customs will be able to accurately calculate how much tax you owe and you won’t end up paying too much. But if you do find yourself going from selling a few things here and there to developing a small business, then you must let the Revenue know within three months. Otherwise you are liable for a £100 fine.
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there are only two certainties in life death and taxes the vast majority of farmers are asset rich and cash poor
i never found anybody at hmrc helpfull years ago when i was employed you could claim expenses for travelling to work it was not very well known but available Lillian was dully dispatched to the local tax office to get the form the most unhelpfully woman behind the desk denied all knowledge of its existence even going as far as saying if you are employed you cannot claim for anything a few years later a colleague asked me if i was claiming for traveling expenses and gave me the form number straight on the phone ti Lil get your self down to the tax office and get these forms the last year i was in employment i paid £2400 in tax and claimed back £2100 not bad for something that did not exist :thumbsup: :farmer: