Are you an Ebay Trader

Thousands turn to ebay to make extra money every day, selling unwanted gifts, sell items and services or to recover any deal. Most people know that if they are short of cash can go to eBay and easily convert an element of their sales in cash.

However, if your on eBay like this on a regular basis that can be classified as a trader. Recently, the Inland Revenue has issued a statement to find out if you qualify as a trader.

If you are knowingly buying a product to sell on for profit makes you liable to a dealer and say so. It 'so simple.

Sell ​​your property and objects, do not make you a trader - unless I purchased solely for resale. It 's the same thing with friends, if they are reselling on behalf of a friend or colleague you are not a trader unless you are making a profit on the items.

It's easy to make fun of yourself, tell your not a trader because just making a small profit, but the Inland Revenue (UK) are known to have their eye on eBay. It would not be difficult for them to understand exactly what they were doing. After all ebay and paypal store all your story electronically. None of it becomes hidden.

If you decide to declare the income eBay, eBay will allow you to register as a business and you can also recover business expenses. Not bad at all and you can end up saving money in the long term.

The choice is up to you to decide if your classified as an eBay trader....