Originally posted by Baseley09
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I sold a bluray on 29th apr and didn’t get payment until the 5th may. (I know BH probably slowed things down, but it’s not 1980 either, waiting for cheques to clear). Also got a tax invoice for the sale,(am not registered as a business seller), so I think this will be monitored more closely. I don’t think many people realise that you can only make £1000 per year as a sole trader, before you have to declare it. I think the tax man will start knockingon people’s doors more often with this new method.
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Originally posted by dvdx2 View PostAlso got a tax invoice for the sale, so I think this will be monitored more closely. I don’t think many people realise that you can only make £1000 per year as a sole trader, before you have to declare it. I think the tax man will start knockingon people’s doors more often with this new method.
Things are only going to get worse across everything.
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It's now $600 limit per year going forward to 2021 in the US before people have to declare it for tax purposes, so expect in certain collecting circles a lot of high end pieces people might have been debating selling coming out this year to avoid paying tax on the profits.Lie with passion and be forever damned...
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Not a fan of this new payment system at all. Had an item sell yesterday, buyer immediately payed and ebay want me to send it out. I cant see the money though and its not in my bank account yet. Yeah it'll probably be fine but that not the point.
Theres no benefit here for me. If they insist on doing it this way the money should appear in your account as quickly as it does with PayPal.
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It won't. Part of the disassociation from Paypal is to keep more of the fee money for itself, and hold onto it for a few days to accrue more interest in the process. You likely won't see the money until end of the week. Sucks for people selling stuff to raise money immediately.Lie with passion and be forever damned...
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That is rubbish. There are a substantial amount of ebayers who sell thousands of the same item for the same price. Their bank statements will look insane.
Surely it is in ebay's interest to hold the money until you choose to withdraw it, and give people the option to pay for items using that money.
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All payments to you as a seller gets redirected to your designated bank account now post migration. Even Paypal payments. So you won't get any Paypal balance now unless you do private sales outside of eBay. Which is why I'm going to add my Paypal specific bank account to my eBay account when I'm forced to migrate so technically I can still use my "eBay money" via Paypal.Lie with passion and be forever damned...
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