Quote:
Originally Posted by greedyboy
It is not tax evasion?
You are taxed on your profits. If an item costs you £5.
You sell it for £1 plus £15 shipping.
Shipping costs you £2
Your profit is still £13 regardless how much you charge for shipping.
What ever you charge for goods, shipping, insurance, sex under the table, you still get taxed, none of them are exempt.
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How is profit £13 if you have documents to show shipping cost £15 thats what i dont get. Or does it rely on the honesty of the seller.
Be honest with you all I have no idea how tax works, spent 18 years in financial market but never touched or bothered with tax and now have an accountant that does everything for me.