Talk

Advanced search

Mumsnet has not checked the qualifications of anyone posting here. Free legal advice is available from a Citizen's Advice Bureau, and the Law Society can supply a list of local solicitors.

Making money online

(18 Posts)
ozzie123 Tue 26-Sep-17 12:17:20

Does anyone know how to make some extra money online? That is actually worth doing?

NameChanger22 Tue 26-Sep-17 12:22:37

Selling on Ebay/Amazon/Etsy.

MargoLovebutter Tue 26-Sep-17 12:25:54

What is your definition of worth doing? How much do you want to make?
Ebay works well for me but I'm not looking to make a living from what I make on it, just cover what I spend on there really.

NameChanger22 Tue 26-Sep-17 12:28:35

I'm interested to know how you sort your tax out for that Margo, as I'm thinking of doing it myself. Do you employ an accountant?

FreckledLeopard Tue 26-Sep-17 12:29:46

Matched betting is great and makes a lot of money - you'd need some float to start off, but you can certainly make £500+ per month (and it's tax free).

ozzie123 Tue 26-Sep-17 12:34:03

I'm just wanting to make some cash for me. My partner works bit don't earn much so after rent etc there isn't anything left. I don't work as I have health problems. Selling online wouldn't be any good for me as we have already sold everything apart from the bare minimum we need

MargoLovebutter Tue 26-Sep-17 12:40:15

I don't make a living out of it NameChanger22. It would depend on how much you are looking to make, as to whether or not it would reach the tax threshold (£11.5k I think). Also depends on whether or not you already have other income to take into consideration.

MargoLovebutter Tue 26-Sep-17 12:41:21

ozzie, have you looked on the moneysavingexpert website. I think there is a section there about ways to boost income, with all sorts of ideas.

19lottie82 Tue 26-Sep-17 14:19:52

Margo it doesn't matter if you're not making a living from it, if you are buying goods with the intention of reselling them, then you need to declare yourself as a business seller and file a tax return wth the HMRC, it doesn't matter how much you make.

OP, I'm a business seller. I buy stock from China and re sell it. TBH the hardest part is finding stuff to sell that you can make a profit on as there is a lot of competition, the trick is to research, research and research some more, so you can try and pick up on a new trend and make some money out of it, before the market is flooded and the item isn't profitable anymore.

I file a tax return once a year and as long as your turnover is under the vat threshold (84k ish?) you just need to provide 2 figures, your turnover and your total out goings (to total your profit) plus and details of any additional employment you have undertaken over the year. It's all done online and is very easy.

MargoLovebutter Tue 26-Sep-17 14:53:29

Just to clarify I am not buying goods with the intention of reselling them and I am not running an online business. This is why I was asking what the OP meant by 'some extra money'. I make 'some' extra money from selling the stuff I no longer want - a bit like I would from a car boot sale, only via ebay.

RubbishMantra Tue 26-Sep-17 15:26:06

I'm intrigued with this matched betting idea - I've seen it mentioned before. Do you need to be an experienced gambler?

altuk1978 Tue 26-Sep-17 15:28:46

It doesn't bring in a huge amount, but I use Prolific - you answer surveys online (normally for university students) and get paid anything from a few pennies to £8+

19lottie82 Wed 27-Sep-17 08:43:17

You can make a decent amount of cash with match betting yes, but you need a pot of a couple of hundred to get started. You will never be at risk losing that money though.

ozzie123 Wed 27-Sep-17 12:49:35

Thanks for the replies

FreckledLeopard Wed 27-Sep-17 14:52:37

@RubbishMantra - no, not at all! I'd never placed a bet in my life when I started doing this in June! It's a big learning curve but so much fun. I'd recommend having a look at Team Profit and OddsMonkey websites to begin with and have a look at what matched betting is all about. There's also a mumsnet thread on it, here in the money section!

NameChanger22 Wed 27-Sep-17 17:38:47

I don't make a living out of it NameChanger22. It would depend on how much you are looking to make, as to whether or not it would reach the tax threshold (£11.5k I think). Also depends on whether or not you already have other income to take into consideration.

I had been wondering about this. Do you still need to fill in a self-assessment and declare your earnings to the tax man if you earn less than £11.5k? I thought you still had to, you just don't pay tax under that amount.

NameChanger22 Wed 27-Sep-17 17:40:09

Sorry - just read Lottie's post.

verystressedmum Sun 01-Oct-17 22:15:33

Lottie do you mind me asking what do you sell?
I'm not going to pinch your ideas grin

Join the discussion

Join the discussion

Registering is free, easy, and means you can join in the discussion, get discounts, win prizes and lots more.

Register now