Day Job with sale's and drop shipping on the side??

tombull82

OK So here is my situation.

To date I been working full time for as many years as I can remember.
Paying all my PAYE/PRSI 20%tax and 41% and now our 1% levy.
All above board OK.

Now comes the tricky part.

I have sold a few items here and there (Del boy style) and I seem to have a bit of a nack for it.
I am currently in talks with a legit supplier that with sell me wholesale items (from Ireland)
I have also setup a website site Drop shipping from a supplier in HK (this was more of a hobby kind of thing to see if I could build a website from self instruction) but low and behold this website has started to take off and has started to make me €200+ per week pre-tax in its first 2 weeks of running.


Now this is what I am planning to do.

1. Keep running the Drop shipping Website.(maybe make another)
2. Set up another website which I will be selling Items direct which I have imported from a supplier in HK.
3. Set up a website which I am going to sell items I am souring from an Irish company.
4. Continue with the Day Job.

My questions.

1. Am I due to pay Import Tax/Vat on the items I Drop ship or is it the receiver who is responsible for it??
2. Should I setup as a Business??
3. Should I setup as a sole trader for Vat purposes??
4. Can I setup as A business and not effect my day job??

Any help with this would be much appreciated as I just don't know even where to start with this whole endeavor.

Thanks in advance
Tombull82

Fingallion

Tom,
I saw your post from earlier in the year and I hope you have your answers. I am considering setting up an ecommerce site for selling nappies and baby wipes etc, ideally drop shipping them direct to customers. We are up in North County Dublin and know a ton of people that are pretty isolated and would be interested in buying from us if we were to put something together. Any advice? Does dropshipping work? Would wholesalers drop ship individual orders at a decent price? Maybe you have already figured out a lot of the hurdles from what you are doing yourself. Did you have to set yourself up as a business? Again, any advice would be appreciated, thanks - Fingallion

JD Dublin

Unfortunately you will have to set up as a legit business, unless you want to run the risk of being caught by Revenue. Not a huge risk, but who knows.

This is not like selling a few dodgy CDs Del-boy style down the pub, Revenue may target this sector ( internet trading ) as it is easy to do a lot of the work from a desk, with a hot cup of tea handy ( just joking lads, honest... ).

So you will have to explore the possibility of setting up a business legitmately.

I am an accountant in practise but you would be better off getting someone local to you, or someone that a friend or colleague has recommended.

If you need any further steers, send me a PM.

jamesy08

Just been reading the posts re:dropshipping,is there much involved in this venture,I have a rented warehouse where i build timber swingsets,legit company,but am looking at other ways to make some money,have large van,tools etc
Regards
Jamesy

Shaneod21

In terms of dropshipping there are many companies out there that you can use. I have been selling on ebay for a good few years with over 9000 feedback.

I started out by dropshipping and now focus more on buying products on wholesale. I set up websites designed around a particular product and relay my customers back to my website in my signature when they ask questions on ebay.

There is money to be made it is all about choosing the right products.

You must set up a registered business for VAT purposes as a soletrader. This also will have some good implications. The other thing to note is that if you decide to go full time and use suppliers for wholesale some require you to have a vat number.

Although wholesalers usually have an MOQ of around 10-20 products the profit margin is far higher. None the less I still use dropshippers as part of my business. However, I have been using a single method that has allowed me to get a much higher margin for the in demand items like iphones and ipod touches etc.

Buying from Asia is the best way to expand your business. Most people think that the quality is going to be poor, however, it is quite the opposite when you have a good supplier.

dny123456

I love it, when I see things like

"One of my proven secret methods that will bank you $1000 per day - A Bold statement, I know, but its true! I have been using this method for many years. This method alone is worth the price of the course. Infact I would go as far as saying its impossible not to make money with this method"

lmao. How many people do you scam a day?

NIcety

Hi,

Can someone clarify on the following?

Who is responsible for Import Tax/Vat/(Duties etc.) on the items thats Drop shipped directly to the customer. Consignee or the eBay seller?

myshirt

More than likely the person receiving the end product on the basis you can prove you were their agent, and not the direct seller. Not always as clear cut as you would like.

Protip: Get proper tax advice, you don't want this to build up on you.

The second one is that drop shipping is possibly one of the most sleaziest, unethical and outrageous things you can do. Do not get into it in a big way; you will not be able to sleep at night. It truly is disgusting and reprobate.

dbran

myshirt wrote: »

The second one is that drop shipping is possibly one of the most sleaziest, unethical and outrageous things you can do. Do not get into it in a big way; you will not be able to sleep at night. It truly is disgusting and reprobate.

Why do you say this?