AuctionCut

Just been browsing the inland revenue website, and they now have an advice section for etraders - those who sell on ebay or yahoo! auctions.

http://www.hmrc.gov.uk/findout/index.htm

Does it effect you? many ebayers insist it's a hobby even when they make a substancial profit.

At what point should you declare your income if your making cash off ebay?

As soon as you buy a product to make money you need to declare, selling your own stuff does not fall under this remit but deliberately buying product to sell on at profit makes you a trader and liable to declare it.

deliberately buying product to sell on at profit makes you a trader

Exactly. So many people make money online and don't declare the income, really your just asking for trouble. Accepting payments by paypal or a similar system leaves every payment traceable, so don't think you can hide it.