Resolved Question

When do I need ro register my small business?

I am just starting to sell items on eBay. I'm mainly getting clothing etc from my friends and family - I'm not paying for any goods, just selling them for my own profit.

I recently bought a wholesale lot of clothes from another vintage seller, I'm now worried that this is leaning more towards becoming a small business venture and I'm not set up for it.

I'm still working full-time so this would be additional income.

Any advice would be much appreciated.

Best Answer - Chosen by Asker

What a lot of silly advice.
Once you start to receive income from selling items which are not yours, then you need to register with HMRC as self employed. You can do this online at www.hmrc.gov.uk. As you already have another job, all your profits will be liable to tax, so you need to keep really accurate records.

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Other Answers (4)

• you would only need to register your business with the vat man when you start to sell more than £40,000
  if you looking to make a profit our site trade-lingerie
  sell costumes and lingerie wholesale our min is £100 but you have a 50 - 60 markup

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• I agree with fengirl but you do not have to register for vat until your income is 68k.

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• Get an accountant,or do your tax return on line with the inland revenue,go to their web side.
  www.hmrc.gov.uk/
• You can sign up for your own free account here: http://www.WebStarts.com?aff=chery