Ebay to report sales to HMRC

[CassidyAce]

You idealistic loon!..

The government are itching to give us a tax cut even though it's unaffordable because this will make them more electable.. low income households trying to save £££s on bike parts would end up paying more for them, this would only serve to offset the cut to national insurance contribution which disproportionately benefits high earners so we're back to square one.. ain't no bike theft getting investigated anytime soon.

Oh, you bitter old cynic you! Don't forget, the better off give handsome amounts to worthy charities like Eton, Harrow, and Cheltenham Ladies' College. HMRC needs that tax from grubby oiks selling bike parts on eBay so that the gentry and nouveau riche can continue their altruistic work avoiding VAT when supporting such worthy causes.

 

[slackboy]

And a new 0.35% regulatory operating fee for the costs involved in telling HMRC.

 

[bikeworkshop]

Sounds cheap compared to the 14% "introduction fee" charged by ebay, and then paypal:
"All you pay is a low transaction fee of 1.4% -3.4% plus 20p and the more you sell, the less it costs."

By my calculations and understanding of maths, on a percentage basis, the more you sell, the more it costs.

No wonder elon musk has so much money

 

[d8mok]

People hate on eBay but without it you don’t sell the item for as much or if at all.

To me 14% is worth it as the sale price is higher than the fee. And if you are savvy you simply use the discounted listings every 2 weeks anyway.

Nobody is forced to use eBay / Amazon or any other selling platform. The alternative is to go back to selling on a car boot and haggle over 5p with Mavis.

HMRC fee is a bit of a pisstake though. However all this is still early days and they will change many aspects of it I feel.

 

[FluffyChicken]

More disgusting establishment theft of individual rights and their money. What next? Will they start on jumble bring and buy sales and boot markets ?

But there are no real changes other than it is automated. It might be your money, but someone has to pay for the roads, paths and tracks you cycle on.
Jumbles still have the same rules, there are many businesses there and they need to report as always, at least in the UK.

 

[greencat]

It's the lack of transparency with eBay's fee structure which is unappealing. At least with Amazon, you can easily see yours and Amazon's share of a sale - before you list it.

The new additional fee is eBay's attempt to undermine the new reporting process. In practice, every company has to comply with all kinds of laws and reporting which are always changing - they don't all say, "Oooh, new regulation. We'll have to raise our pricing by 0.01% and let our customers know". Chances are that eBay are also grabbing some of that fee as additional profit.

eBay has reach and are somewhat easy to use, but they've barely improved the platform for years. Problems people have been complaining about for years, have been left unfixed.