Dilemma

[r5gttgaz]

Along time ago I decided to try and generate a second income by selling car valeting products online, I funded all the set up and stock buying with my own money. However when I commissioned someone to do the web side of things (web shop) they just basically took the money and ran leaving me a very pi$$ed of person. I persued to get it rectified but to no avail, but I then got a chance promotion at work and no longer had the need to have a sideline to get a second income. Revelling in my new found happiness I scrapped all plans and settled into my new job and I am very happy with how things are going.

At the moment we are preparing to sell our house, and upon renovating the spare room there must be over 2k worth of products sat in there collecting dust. What do I do with this stuff? I don't think I can sell it as I would have to re-register for tax and NI and all that.

I can only think to throw it all in the skip during the final days of house renovation.

Any ideas of what I can do?

Thanks R5

[mmm-five]

Just put it on ebay or take it to a car boot sale, use different accounts for small batches if you're worried about the taxman!

[D Stanley]

I have a solution for you.

Sell the goods at a slight loss. You don't pay tax on money you loose.

You might be able to recover most of the capital, which is better than throwing it all away. It will also be easier to sell the goods at a lower than usual price on the open marketbecause people like bargains.

Try a car boot sale, or contact the sort of professional that uses these products to see if they would like to save some money.

[Eric Mc]

That is the solution. The tax man would prefer NOT to hear from you if you sold the stuff at a loss.

[r5gttgaz]

Ah ha, that sounds ok then, I will give that a go. Perhaps some of you lot will be interested? I will Email Ted first in regards to advertising.

[steviebee]

Or you could go to reputable web company and get them to do a propoer job and not pay them until the job's done. You never, know - it might actually work!

[r5gttgaz]

steviebee said:

Or you could go to reputable web company and get them to do a propoer job and not pay them until the job's done. You never, know - it might actually work!

Unfortunatly I've now exhausted my finances and took a big hit the first time round, sad really but its put me off for life.

Edited by r5gttgaz on Friday 20th October 10:01

[d stanley]

If we were interested in finding out what it is that you want to sell, could we email you?

[r5gttgaz]

d stanley said:

If we were interested in finding out what it is that you want to sell, could we email you?

If you want, you can.