Re: Should I start a new ebay account?
Welcome to the forums.
I am the same like you, I started selling on ebay since 2007 as a part time job, everything went so well so I quitted my office work and focus on ebay full time after half year.
Things were going great from 2007 to 2013. All of a sudden one morning I wake up everything goes down.
paypal limited, ebay suspended. End of the world.
Good thing is I found this forum. Learned so much in these years, one of the most important is just like ilcarletto said, Do not relay on jus one account, go stealth and set up your business activity with this goal in mind.
Now I have 6 accounts with me, most business is on 3 of them, if one gets down, I will start to create a new one and maintain it. Make sure there are not linked. Quote:
Originally Posted by Gema Hi All,
I'm facing a bit of dilemma and hopefully you chaps could help?
I have regular 9-5 job that I'm thinking of leaving and devoting myself full time to my ebay venture which is turning into a successful little business. (It started as hobby)
The problem lies in the fact, I have been selling on ebay for about 10 years under a private account, which is not registered for tax. In the early years it was only turning me a 8-10k profit and really just paying for a nice holiday or two each year. But the last four years it's been turning 20K in profit which is not bad for something I'm doing in the evening/weekends.
This account has a high selling/listing limits.
Now if I look at my selling turnover on my ebay dashboard, it says my turnover over the last 10 years is £180k (not profit).
Basically, If I was to register for tax for full time 'legit' selling, do you think it would it be safe to use this ebay account or should I start a new ebay account? Would my past selling history cause problems with the tax man?
Your opinions would be greatly appreciated.
Thanks, Gem | |