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R2D2 in stock at Argos Direct

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Not sure how many they'll have but R2 is back in stock at Argos for home delivery. I have enough so time to let someone else have them!

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Guest TabbyBoy

Very encouraging but, I'd never sell as low as

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Guest TabbyBoy

^20 minutes to process 1 parcel?

30 minutes at post office?

Why 40% tax?

That's how long it takes me to copy/paste address, box/tape thoroughly, buy/print/apply postage sticker. I virtually gold-plate the box to avoid negative feedback. Post office queues are massive all day where I work as it's a very busy town centre branch with only half the counters open. If you're asking about tax, you're open to HMRC investigation if caught. Any profit HAS to be declared unless you're earning under the taxable threshold. I'm a 40% taxpayer in my day job hence, I pay 40% on LEGO profits. How do I know? Because I was slapped with a Edited by TabbyBoy

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Slightly off track but if you're paying income tax and are in effect self-employed (as well as employed), does that imply you need to register with companies house?

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Guest davewager78

Slightly off track but if you're paying income tax and are in effect self-employed (as well as employed), does that imply you need to register with companies house?

 

I don't think so. Companies House is for companies. Unless you have actually incorporated a company, i don't believe Companies House are involved

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Guest davewager78

I'm a 40% taxpayer as well but the wife ain't, so she's the reseller.

 

Slight Devil's Advocate, but are you confident that if you were investigated this would stand up? Assume from your post and the fact you're the one posting, not her

Edited by davewager78

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^It's fine, eBay business is in her name as well and we've been checked by hrmc before.

Re the companies house other query, doesn't apply, registered as sole trader.

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That's how long it takes me to copy/paste address, box/tape thoroughly, buy/print/apply postage sticker. I virtually gold-plate the box to avoid negative feedback. Post office queues are massive all day where I work as it's a very busy town centre branch with only half the counters open. If you're asking about tax, you're open to HMRC investigation if caught. Any profit HAS to be declared unless you're earning under the taxable threshold. I'm a 40% taxpayer in my day job hence, I pay 40% on LEGO profits. How do I know? Because I was slapped with a

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Guest TabbyBoy

Do you pay national insurance as well - have had a look online and not quite sure how that works?

 

No as I'm fully employed, on PAYE and my employer pays NI (mine and theirs). You'd have to pay it if you were self-employed otherwise you'd have no pension, no benefits or NHS if/when the time came.

 

I wish HMRC would just leave the private seller alone to encourage free enterprise. I already pay

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I see, thanks for that.

I too am a 40% tax payer and though I've only sold less than 10 sets over the past year (as I'm primarily in the holding phase) I'm unsure if I'll ever be doing the major turnover for it now to be worth it.

I dont plan to ever hold more than 100 sets, of various sizes and mix, so assuming I have a four year rolling hold/sell approach that would be in effect one set sold/bought a forthnight - on paper.

As an aside, interesting blog on tax and ebay here:

http://www.brighton-accountants.com/blog/ebay-income-tax/

Agree with the private seller point when already paying tax. Granted, if someone was raking in

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Just a quick question about Argos stock. How do you check this item online as catalog item does not exist anymore. In this case, does this mean that the catalog entry still exists in store?

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Guest TabbyBoy

Leatherhead had one on Monday but, the box was covered in catalogue numbers and Padawan stickers so I left it alone.  It'll be a return so something's wrong with it.  Argos seem to only batch-test returns so I wouldn't chance it.  In the UK, I only sell MISB, nothing less will do.

Edited by TabbyBoy

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