extra cash
Author
Discussion

covmutley

Original Poster:

3,382 posts

221 months

Tuesday 13th January 2009
quotequote all
I am looking to buy a mk1 mx 5 soon but need to find an exta income source to pay for it and appease the mrs.

Matched betting seems a good way to make a few hundred relatively easily? When looking at cars on ebay and autotrader it has struck me how little effort some people put into their adverts. Is anyone making extra cash by purchasing cars cleaning them and relisting with good quality photos and descriptions?

other legal suggestions welcome! Cheers.


Super Bad

556 posts

243 months

Eric Mc

125,873 posts

296 months

Tuesday 13th January 2009
quotequote all
covmutley said:
I am looking to buy a mk1 mx 5 soon but need to find an exta income source to pay for it and appease the mrs.

Matched betting seems a good way to make a few hundred relatively easily? When looking at cars on ebay and autotrader it has struck me how little effort some people put into their adverts. Is anyone making extra cash by purchasing cars cleaning them and relisting with good quality photos and descriptions?

other legal suggestions welcome! Cheers.
Work overtime?

Mr POD

5,153 posts

223 months

Tuesday 13th January 2009
quotequote all
My son earns £20 for a saturday in a garden centre. Tax and NI free at present due to age and low level of income. The ADULTS get 40 minus tax and NI for a day. Do the whole weekend you'd have £50 in your back pocket.
20 weeks of that and you'd have enough for a good mk1 mx5.

Or you could mow lawns. Or cut down trees.

Brown and Boris

11,838 posts

266 months

Tuesday 13th January 2009
quotequote all
I did think about bulk buying some of the home tests kits for cholesterol, liver disease, diabetes, prostrate cancer etc and then selling them on Ebay or though local ads.

Eric Mc

125,873 posts

296 months

Tuesday 13th January 2009
quotequote all
Mr POD said:
My son earns £20 for a saturday in a garden centre. Tax and NI free at present due to age and low level of income. The ADULTS get 40 minus tax and NI for a day. Do the whole weekend you'd have £50 in your back pocket.
20 weeks of that and you'd have enough for a good mk1 mx5.

Or you could mow lawns. Or cut down trees.
There are no tax reliefs due to being young.

Ade355

337 posts

271 months

Tuesday 13th January 2009
quotequote all
covmutley said:
I am looking to buy a mk1 mx 5 soon but need to find an exta income source to pay for it and appease the mrs.

Matched betting seems a good way to make a few hundred relatively easily? When looking at cars on ebay and autotrader it has struck me how little effort some people put into their adverts. Is anyone making extra cash by purchasing cars cleaning them and relisting with good quality photos and descriptions?

other legal suggestions welcome! Cheers.
Buying and selling cars like this (on eBay) is NOT as easy as it looks - very time consuming and plenty of hidden risks. You need to purchase trade car insurance up front which is not cheap, used car market is not exactly on the up either.

Mr POD

5,153 posts

223 months

Wednesday 14th January 2009
quotequote all
Eric Mc said:
Mr POD said:
My son earns £20 for a saturday in a garden centre. Tax and NI free at present due to age and low level of income. The ADULTS get 40 minus tax and NI for a day. Do the whole weekend you'd have £50 in your back pocket.
20 weeks of that and you'd have enough for a good mk1 mx5.

Or you could mow lawns. Or cut down trees.
There are no tax reliefs due to being young.
At age 15, should his employer be asking for his NI number ?

I've looked into the rules of employment and his hours and scope of his job fit within the rules, and his employer has informed the Councils Education Department as per the law, a full risk assessment on his duties have been done and documented in writting. His pay puts him at below the thresholds for tax and NI.

Eric Mc

125,873 posts

296 months

Wednesday 14th January 2009
quotequote all
Mr POD said:
Eric Mc said:
Mr POD said:
My son earns £20 for a saturday in a garden centre. Tax and NI free at present due to age and low level of income. The ADULTS get 40 minus tax and NI for a day. Do the whole weekend you'd have £50 in your back pocket.
20 weeks of that and you'd have enough for a good mk1 mx5.

Or you could mow lawns. Or cut down trees.
There are no tax reliefs due to being young.
At age 15, should his employer be asking for his NI number ?

I've looked into the rules of employment and his hours and scope of his job fit within the rules, and his employer has informed the Councils Education Department as per the law, a full risk assessment on his duties have been done and documented in writting. His pay puts him at below the thresholds for tax and NI.
He won't get his NI number until he reaches 16 - so he's not liable to NI on his earnings. NI IS age related

Income Tax is not. Every human being is liable to Income Tax from the moment they are born. Obviously, if their overall earnings in any given tax year are below the tax allowance levels, then they won't be liable to any tax. But that rule applies to everybody, irrespective of their age.

Mr POD

5,153 posts

223 months

Wednesday 14th January 2009
quotequote all
Eric Mc said:
Mr POD said:
Eric Mc said:
Mr POD said:
My son earns £20 for a saturday in a garden centre. Tax and NI free at present due to age and low level of income. The ADULTS get 40 minus tax and NI for a day. Do the whole weekend you'd have £50 in your back pocket.
20 weeks of that and you'd have enough for a good mk1 mx5.

Or you could mow lawns. Or cut down trees.
There are no tax reliefs due to being young.
At age 15, should his employer be asking for his NI number ?

I've looked into the rules of employment and his hours and scope of his job fit within the rules, and his employer has informed the Councils Education Department as per the law, a full risk assessment on his duties have been done and documented in writting. His pay puts him at below the thresholds for tax and NI.
He won't get his NI number until he reaches 16 - so he's not liable to NI on his earnings. NI IS age related

Income Tax is not. Every human being is liable to Income Tax from the moment they are born. Obviously, if their overall earnings in any given tax year are below the tax allowance levels, then they won't be liable to any tax. But that rule applies to everybody, irrespective of their age.
Just as I thought. He'll earn about £1000 this year tax free, if he keeps it up. I think he might be planning to become a PHer. My daughter tells me that as he walks to school he points out the cars on a local forecourt that he can afford now.

Eric Mc

125,873 posts

296 months

Wednesday 14th January 2009
quotequote all
Dangerous tendencies. He's OK as long as he desn't keep looking up at aeroplanes too.

Mr POD

5,153 posts

223 months

Wednesday 14th January 2009
quotequote all
Eric Mc said:
Dangerous tendencies. He's OK as long as he desn't keep looking up at aeroplanes too.
I think he NEEDS a NOVA, in about 18 months time. Preferrable a 998 spin. Perhaps the Gsi wheels i have in the shed, and some decent brakes.