Working out profit and loss

Question

Im sure this will have been asked before so apologies for the repetition. I'm just starting to pull together my accounts. I can see that via ebay reporting I can see what an item sold for, postage and buyer protection fee charged, but I cant see how much was deducted from any promoted sales? I can see the report says which items were promoted, but not what this cost me. Do I just deduct and average (say 9%?) or can I find the actual number somewhere to make life easier. TIA

tommystrezures · Accepted Answer

As a private seller you shouldn’t need this information unless you are trading incorrectly?

*vyolla* · Answer

Only business sellers need to complete a tax return if their turnover is more than £1,000 in a tax year. Whilst eBay still informs HMRC of our sales, only business sellers pay tax because they're buying items in to re-sell, unlike private sellers who are just selling off their own personal possessions.

Business sellers trading on business accounts may deduct expenses, private sellers won't have any.

john1297576 · Answer

It is all in the details in your sold items. Breakdown of what buyer paid and what you receive after deductions. Click the order number above the picture.