Confusion still reigns supreme

[sloanes3]

Last year I posted about the reporting to HMRC from E bay about sales. I was told £1000 / 30 items, ran from

1 Jan till 31 Dec. Then it was £1,700 as it was euros not pounds, still 30 items.

Now it seems its back to £1000 BUT now they are saying from one tax year to another . Different time scale, so who can definitly say £1000 or  £1,700? Year start 1 Jan to year end 31 Dec , or tax year, April to April?  Lots of people are confuused by this and are filling in self assessment forms wrongly and think they must pay tax.

The "No new tax" videos put out by e bay are no use either , either that or its me. They talk about tax , fair enought then capital gains tax, nothing about the time scale of selling things. Now 4th Feb , private sellers have to wait until the BUYER says its arrived. I now use e bay postage but nowhere on the fination staement doe it show I've paid ! So you wait for your cash , pay 75p instead of 30p pay 4%  of the sale and they say this is better. Yes it used to by 13% but you got paid straight away. I will be looking long and hard at selling here now. Ruddy hell make it simple like it used to be and for Gods sake stop trying to make money out of folks who are not tax consultants or financial wizzards

[jckl1957]

Ebay are obliged by law to report the sales of members who sold more than 30 items last year, January to December.  Sales also have to be reported if they were over 2000 Euros, about £1700.  That has not changed,

For accurate tax advice and information, the best source is HMRC.

Private sellers no longer pay Final Value Fees on Ebay.

From 4th February  there will be fees for BUYERS of 4% + 75p.  For any item over £6, the amount going to Ebay will be less than it was when sellers paid fees.  For more expensive items, the amount going to Ebay will be substantially less.

If you send items using tracked delivery, funds will be available to you 2 days after trackinng shows delivered.  The buyer is not required to confirm delivery at all.

If you send untracked items, with no proof of delivery, you will have to wait 14 days for payment.

[papso22]

The reporting limits have not changed, £1,000 is the HMRC trading allowance for traders.  

Reporting affects both private and business sellers, the trading allowance is just for businesses.

Once you separate them out in your head it's not that complicated. 

[sloanes3]

Thanks for the 14 days untracked information. That seems to have slipped ebays mind to put that bit of information out there

[jckl1957]

It is a hot topic of conversation in the forum - especially in 'selling'.

Also, if you have this

Changes to when you get paid

Starting on 4 Feb, funds will typically be available in your eBay balance 2 days after delivery.

Learn more

 

at the top of your selling page, all of the details are there for you to read, directly from Ebay.  Just click on 'learn more'.

[papso22]

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@jckl1957 wrote:

  Just click on 'learn more'.

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If only more people had done that, life would be so much simpler!

[sloanes3]

Don't think so . Still see £1700 then £1000.
>From Jan 1st to Dec 31st , then tax year April - April. Contacted e bay about this loads of times and they don't even understand either.
Putting a lot on trust with Feb 4 too. Wait 14 days if you dont use tracked? Crazy. Some stuff you sell may be worth less than the cost of tracked, then when the buyer says they have it? Yeah right , some folks will not even put feedback on so do they really think they will say "yes its here" ? Crazy days

[*vyolla*]

@sloanes3 

The £1,000 is a Trading Allowance for small business sellers. If a business seller has sales over £1,000 they need to complete a tax return.

A private seller may have sales over £1,000 and is not required to complete a tax return. They would be listing their own personal bits and pieces such as items from their wardrobe, loft, garage etc.

eBay will be reporting sales of over 30 items or £1,740 (figure may change due to inflation, it's 2000 Euros). 

This eBay guidance page explains what's being reported and when:

https://www.ebay.co.uk/help/account/regulatory/uk-digital-sales-reporting?id=5454&st=3&pos=1&query=U...

[jckl1957]

Did you read my first reply?

Receiving your money is not dependent on the buyer leaving feedback or marking items as received.

Feedback is voluntary and can be left by mistake and there is no mechanism for buyers to mark items as received.