Selling online - is it worth it?

Full Member
macdee1823
Posts: 18
Joined: 10 Jan 07
Karma: 
24 Jan 07 06:16:19 pm
Hi,

I have been at this for a few week and I do realise it takes a certain amount of effort from me to succeed but I currently am having a bit of problems. The fees that ebay charge are a joke, I have sold quite a few items through them now and the charges are extreme to say the least, I have payed for a couple of ebooks aswell that tell me if I buy phones from these certain distributors I can sell them on and make in some cases 75% profit but I need to be VAT registered (don't know what this means), I have sent off an application to be VAT registered anyway to HM Revenue and customs and hopefully I can start selling phones on ebay and make some profit at last.

Please
Can anybody fill me in on what VAT is and why sllers need it.

Thanks for your time.

Free Member
jimmy_huber
Posts: 2867
Joined: 11 Mar 10
Karma: 
24 Jan 07 06:51:59 pm
VAT is a tax on the final consumption of certain goods and services

Please visit this website, It should help you with what you want to know.

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Full Member
pcbrook
Posts: 7
Joined: 13 Jan 07
Karma: 
25 Jan 07 12:37:29 pm
So, am I right in my understanding that you only need a VAT number if you are importing something made in the UK of the Isle of man?

Full Member
pcbrook
Posts: 7
Joined: 13 Jan 07
Karma: 
25 Jan 07 12:42:37 pm
Wow! Another note. Those taxes seem kind of high! I am new to this whole thing but it seems to me if the taxes on importing from anywhere are that high how do you really make a profit?

There is lot to learn here and seems a little overwhelming right now!

Full Member
pcbrook
Posts: 7
Joined: 13 Jan 07
Karma: 
25 Jan 07 12:54:01 pm
My Bad! VAT is for importing to the UK. I think my caffeine is finally kicking in!!

Free Member
jimmy_huber
Posts: 2867
Joined: 11 Mar 10
Karma: 
25 Jan 07 06:38:05 pm
:roll: hehe


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