How to become an eBay business?
Hi, I am a private seller at the minute but I love selling on eBay and am wondering the necessary steps to becoming an eBay business? I.e. with a business account. I am unsure of each step I must take such as registering as a business, tax and VAT, selling fees differences. I am asking this question also as I want to do everything properly and legally so I don’t break any eBay rules or UK laws on becoming a business through eBay!
Sounds good,Because you want to make your business in a legal way.Determine if you are required to pay taxes from your sales on eBay. Subtract any allowable deductions and calculate your adjusted net income by following the form’s instructions. If the calculated amount is positive, you owe taxes from your sales on eBay.Pay your taxes from your sales on eBay in one of three ways: by mail, by phone or online.
To pay by mail, write a check or obtain a money order for the amount you owe, made out to "United States Treasury." Send the check or money order, along with your complete tax return form, to the appropriate IRS office in your state. To pay by phone, contact the IRS at (888) 729-1040 after filing your tax return. You can use the automated system to pay by credit card or debit card. To pay taxes from sales on eBay online, visit the IRS website after filing your return and use your credit card, debt card or bank account.
But i also give you some important tips-
If you sold only your own used items that you no longer wanted, you likely do not need to report these sales. Unless you made a significant profit–i.e., you purchased an antique clock for $25, decided you no longer wanted it, and then sold it on eBay for $3,500–this is not counted as income. Think of it this way: if you were selling items on eBay the way you would sell your old belongings at a yard sale, you are not required to pay taxes from sales on eBay. If you are buying and selling items on eBay with the intention of turning a profit or earning income, however, you will need to report your earnings and pay taxes.You also can try izzonet for successful eBay selling tips.
http://www.izzonet.com/streetwise-ecommerce/tips-for-successful-selling-on-ebay
May it can help you also.
This program helped me out a lot.
http://f9434uoaq9sxdt8eu7ruruerfv.hop.clickbank.net/?tid=15
or try:
http://www.thereviewgang.com has a lot of different programs for ebay. Good Luck!
References :
Once you start buying (or making) items to sell you are a business in UK law
Register on ebay as a Business (gets you better discounts) and more importantly keep all records of sales and outgoings and inform HMRC that you are in Business
VAT dosent even come into it until total revenue hits around £70.000 a year
You are only taxed on profit and for the first few years there will be little of that as you will be buying stock and expanding
A good accountant can make you ‘lose ‘ money…. so no taxed owed for a while
HMRC website gives you all the help and advice you need
References :
eBay TRS Powerseller
Sounds good,Because you want to make your business in a legal way.Determine if you are required to pay taxes from your sales on eBay. Subtract any allowable deductions and calculate your adjusted net income by following the form’s instructions. If the calculated amount is positive, you owe taxes from your sales on eBay.Pay your taxes from your sales on eBay in one of three ways: by mail, by phone or online.
To pay by mail, write a check or obtain a money order for the amount you owe, made out to "United States Treasury." Send the check or money order, along with your complete tax return form, to the appropriate IRS office in your state. To pay by phone, contact the IRS at (888) 729-1040 after filing your tax return. You can use the automated system to pay by credit card or debit card. To pay taxes from sales on eBay online, visit the IRS website after filing your return and use your credit card, debt card or bank account.
But i also give you some important tips-
If you sold only your own used items that you no longer wanted, you likely do not need to report these sales. Unless you made a significant profit–i.e., you purchased an antique clock for $25, decided you no longer wanted it, and then sold it on eBay for $3,500–this is not counted as income. Think of it this way: if you were selling items on eBay the way you would sell your old belongings at a yard sale, you are not required to pay taxes from sales on eBay. If you are buying and selling items on eBay with the intention of turning a profit or earning income, however, you will need to report your earnings and pay taxes.You also can try izzonet for successful eBay selling tips.
http://www.izzonet.com/streetwise-ecommerce/tips-for-successful-selling-on-ebay
May it can help you also.
References :