SHE needs closet space and knew she could make some money for charity in the process.
So Billie Faiers decided to join the Vinted trend and listed several of her designer products on the sales app.
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And it looks like her decision paid off as she made a whopping £165 in just 24 hours.
Profits from your sales on Vinted will go to charity.
“I just did a big cleanse and moved my wardrobe from winter to summer,” she said in a video on her website. Instagram Stories.
“I’ve heard a lot about Vinted, so I thought I’d open an account and show off some of the stuff I’ll be uploading.
New Vinted rules for you to know
IF you want to clean out your closet and get rid of your old stuff on Vinted, you’ll need to consider the new rules that recently came into effect.
If people sell personal items for less than they paid new (which is often the case with second-hand sales), there is no tax impact.
However, since January 1, digital platforms including eBay, Airbnb, Etsy, Amazon and Vinted must share seller information with HMRC as part of a crackdown.
You’re unlikely to be affected if you only sell a few second-hand items online each year – generally only commercial sellers who trade for profit may need to pay tax.
A £1,000 tax exemption has been in place since 2017 for commercial sellers trading for profit – the only time an individual personal item may be taxable is if it sells for more than £6,000 and there is a profit from the sale.
However, businesses now have to pass your details to HMRC if you sell 30 or more items a year or earn more than £1,700.
It is part of a broader tax crackdown to help ensure that those who increase their income through side hustles pay what they owe.
Although your details will not be shared with HMRC if you earn between £1,000 and £1,700, you will still need to pay tax as normal.
Among the items she listed were a pair of fur-trimmed ankle boots from Zara, for which she earned £15, and a gorgeous size 8 Karen Millen beaded dress, which earned £40.
In fact, Billie said the beaded dress was the one she wore during a trip to Paris with her sister Sam and their mother Sue.
“I remember getting a lot of DMs at the time asking if I was going to sell it,” she said.
“I wasn’t ready to give up, but now is the time!”
Billie also listed several children’s items, including a pretty pink Deolinda dress, in size 9-12 months, for which she was offered £20.
The only item not yet sold is a six to nine month old Bonton jacket, which Billie listed for £75.
“As we know, especially with babies, they grow very quickly, and in fact, many of Margot’s clothes are new or she may have only worn them once or twice,” she added.
“So I feel like it would be great to give a second life to someone who will love it as much as I do.”
Billie also sold a Topshop jumper and skirt for £35, a pair of green knee-high boots for £20 and some Marks & Spencer trousers for £15.
“What I love about Vinted is that it’s very easy to use and there are no seller fees,” she continued.
Despite being a new Vinted user, Billie already has more than 7,100 followers on the app.
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This story originally appeared on The-sun.com read the full story
