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Old 02-02-2017
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Default Should I start a new ebay account?

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
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  #2  
Old 02-03-2017
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Default Re: Should I start a new ebay account?

Hi Gema, welcome to the forum.

I do not have a proper answer for your question but I like to give you an advice based on the experience I got from life and from this forum.
Do not relay on jus one account, go stealth and set up your business activity with this goal in mind.

I have read a lot of horror stories from people who was making a living out of eBay/Amazon with only one account. They can block you and ban you anytime, be wise.

Read a lot of this forum and stealth guide is a very good investment.

All the best as you master stealth, it will serve you well
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Old 02-03-2017
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Default 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 View Post
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
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  #4  
Old 02-03-2017
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Default Re: Should I start a new ebay account?

Your past selling history could cause you issues with the taxman ifthey find out. You are legally obliged to pay tax on any profit you make. So tread carefully....

If you now decide to go full time and all legit, I would keep everything seperate from what you have done before.
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  #5  
Old 02-03-2017
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Default Re: Should I start a new ebay account?

I wouldn't even consider quitting until you have a few stealth accounts running. It is far too risky because your one account can be shut down too easy. Most of us are here because we woke up one day and everything was shut down....and yes, even when/if you do everything right.
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Old 02-06-2017
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Default Re: Should I start a new ebay account?

It does not matter if you open new account you can't get away from taxman if they find out, as money goes into your account you are responsible for tax does not matter which eBay account it's came from,

Best to get accountant
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Old 02-06-2017
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Default Re: Should I start a new ebay account?

Welcome to the forums OP - all the best as you master stealth
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Old 02-06-2017
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Default Re: Should I start a new ebay account?

Welcome to the forums Gem and all the best for future. I have been working with eBay and PayPal professionally for several years. Its really nice experience working with eBay. Tired of manually finding items to sell? Give a few parameters then let our scanner engine locate high-profit items on Amazon to list on eBay.

Good Luck!

You can get eBay listing here:
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