I am wanting to register as self employed for a particular business venture but I would also like to sell a few products on Ebay which will be created for profit purposes so I understand that this will be taxable. My question is though, if I were to sell old items and clothing from home that is not taxable or for business do i have to keep a record of these transactions also? They are seperate products so it will be easy for me to distinguish what is business and what is personal so do I just record the business products? I dont really want the hassle of another Ebay and Paypal account as I think to be honest just one account with them is plenty hassle for anyone!!
      Answer1:Yes, you will keep there records.
      Answer2:You only need to include in your accounts the purchase and sale of goods bought specifically for sale on EBay. It would be a good idea to keep a spearate record of personal items sold so you can produce evidence of this if challenged.
      Answer3:Its up to you.If you think it will be easier to sell everything under one username and split them when it comes to doing your accounts, thats fine.But bear in mind that if youre going to be registering as a business seller on eBay and listing your business items, it will look a bit weird if potential buyers suddenly come across one of your old jumpers in the middle of your business listings!Its no real hassle operating two eBay accounts, one for personal items and the other for business.You dont need another PayPal account (in fact, you are only allowed one personal and one premier account anyway).If you register another id with eBay, you can simply add the new email address to your existing PayPal account.A bit more info on the above points herehttp://pages.ebay.co.uk/help/account/que...and herehttp://pages.ebay.co.uk/help/account/que...and herehttps://www.paypal.com/helpcenter/main.j...and as a business seller, you also need to read up herehttp://www2.ebay.com/aw/uk/2008073118182...and herehttp://pages.ebay.co.uk/businesscentre/
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