Hi all, looking for some advice

I have not declared myself as self employed yet but do plan to in a month or so.
I have a business account on Ebay but want to sell some personal belongings.

Want to sell them with my business account because of my status and feedback but don't want them to be considered as part of my business profits.

Should i just start a new personal account and avoid complications or sell on business account.

By the way most of the personal has nothing to do with what i sell in my business, also i reckon that i could sell for no less than £300

Thanks
Simon

Shouldn't be a problem, but I'd deff register self employed soon,
otherwise your asking for trouble.


Andy

Originally Posted by AALG_Andy

Shouldn't be a problem, but I'd deff register self employed soon,
otherwise your asking for trouble.


Andy

but ive only been going for 6/7 weeks and i heard you can wait 3 months until you register

Originally Posted by Fray Bentos

but ive only been going for 6/7 weeks and i heard you can wait 3 months until you register

Yeah thats the guidelines but the longer you leave it the closer to
that 3 month period you get. Its only a phone call to the tax office,
so get it done.

Good luck
Andy

I think i will do it sooner rather than later

So even though these sales will be sitting alognside my business sales, they won't be taxed if i say they are not part of the business?

What stops anyone from just saying this about some of the normal stock and getting away with a little bit of tax?

I'd use 2 separate accounts. I've sold personal items for my parents from my business account and ended up running into complications. Buyers expect a more professional service when your registered as a business.

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Last edited by btman; 16-03-2009 at 07:13 PM.