Hi
I need to know the fact before launching any business espeically in Ebay. I understand that you need to register as a self-employer hence I have to pay class 2 and class 4 national insurance contribution.
What if my items sold at a profit, do i require to pay more tax? If can you please give me the information.
Is anymore tax that I need to pay out?
Thank in advance
UFO
Ebay
2 posts • Page 1 of 1
by deanshepherd on Tue Nov 08, 2005 12:59 am
If you are carrying on a business with a view to profit then you will be taxed on those profits.
Selling second hand items of your own on eBay is not usually a business, purchasing items with the intent to resell and make a profit is a business.
I have a free business start-up guide which contains a lot of useful information. Feel free to email me if you would like a copy.
Dean Shepherd
dean.shepherd@mmi-online.co.uk
MMI Accountancy
www.mmi-online.co.uk
Selling second hand items of your own on eBay is not usually a business, purchasing items with the intent to resell and make a profit is a business.
I have a free business start-up guide which contains a lot of useful information. Feel free to email me if you would like a copy.
Dean Shepherd
dean.shepherd@mmi-online.co.uk
MMI Accountancy
www.mmi-online.co.uk
- deanshepherd
- Posts: 1082
- Joined: Wed Aug 06, 2008 3:23 pm
2 posts • Page 1 of 1
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