another eBay problem

[HawkEye244]

Can anyone explain to me why eBay hold onto funds until a specified date? I sold a PC game for £5 but it says that the money won't be released until the 25th December, that means I won't be shipping it until I receive the funds which surely will make the buyer very unhappy. What's this about ?

 

[Ian H]

I thought payments were instant.

 

[EFLImpudence]

So did I. Mine have been - both ways.

 

[Ian H]

Bet Hawkeye doesn’t use PayPal, can’t trust them.

 

[JimCrow]

Is it a new seller account?.
https://www.ebay.co.uk/pages/help/sell/paymentprocess-newsellers.html

 

[HawkEye244]

Turns out I've not used eBay enough and the recent usage caused these fund restrictions so little to do other than wait

 

[HawkEye244]

Bet Hawkeye doesn’t use PayPal, can’t trust them.

You'd make a mint selling your missus knickers mate, just saying.


Anyone know how much money you can earn through eBay before it's liable for tax ?

 

[Ian H]

You'd make a mint selling your missus knickers mate, just saying.

If you want to sniff out a bargain i’ll knock you 10% off for cash

 

[mattylad]

Anyone know how much money you can earn through eBay before it's liable for tax ?

ISTR that anything over £3k and there is a duty to notify HMRC, but your allowed to earn £6k before HMRC take an interest.
This may not be correct, may even be complete BS, fact checking is your responsibility.
E.O.E.

 

[EFLImpudence]

Anyone know how much money you can earn through eBay before it's liable for tax ?

Depends if it is classed as income.

 

[HawkEye244]

Anything over 3k well I'm along way off so that's worth knowing for the future anyway

 

[Ihavenojob]

If you're flogging your old stuff then unless you're getting more than you paid for it, I would say not. I have flogged off hundreds of coins I bought years ago,also fishing reels, much less than I paid so I hope not.

 

[ban-all-sheds]

If you want to sniff out a bargain i’ll knock you 10% off for cash

You're taking the p***.

And you shouldn't - that might be what he wants.

 

[ban-all-sheds]

ISTR that anything over £3k and there is a duty to notify HMRC, but your allowed to earn £6k before HMRC take an interest.
This may not be correct, may even be complete BS, fact checking is your responsibility.

Never heard that.

IHNI whether it is, or is not, BS, just saying...

 

[SammyInnit]

ISTR that anything over £3k and there is a duty to notify HMRC, but your allowed to earn £6k before HMRC take an interest.
This may not be correct, may even be complete BS, fact checking is your responsibility.
E.O.E.

Unless you're a VAT registered commercial retailer it won't apply for selling off odds and ends. It becomes a taxable source of income if you're repeatedly trading items for cash that accumulates to over £1000 which is the 'microbusiness' threshold.

If you're using eBay as a source of income to replace or heavily suppliment your income you will have to file a self assessment for it.

I've never paid any extra tax on items I've sold on eBay because I'm not a commercial seller and I've already paid the VAT for it. It wouldn't be a suppliment to income as it was purchased with income I've already paid tax on.

There's a few things on the net that address it but it really boils down to your intention.