2022 Vinted Finances
I have been selling on Vinted since August 2021. Just selling things that we, as a family, don't need any longer - mainly ladies and children's clothing.
I have run a few Vinted ads, mainly wardrobe spotlights, where you pay a set amount to have your wardrobe show up in search results over the following 7 days.
Over 2022, I have generated a total sales on Vinted of £861.09.
As this amount is less than £1,000 I am not required to put this on my personal tax return and therefore not required to pay UK tax on these earnings. However, if you earn over £1,000 in a tax year, then you are required to submit as part of a personal tax return submission and pay tax - so keep this in mind if you are selling on Vinted.
Out of those total sales I spent a total of £40.35 on Vinted advertising - primarily wardrobe spotlights.
Additional costs that I had was packaging materials for postage. I purchased a bumper pack of postage envelopes for £11.99 from Amazon.
That has left me with a total profit for 2022 from my Vinted activities of £808.75.
In 2023 my plan is also to sell things on behalf of other people as well, and so for those sales I will take a percentage commission. That means that for each item sold I will keep a percentage and my client will be paid a percentage. I will be responsible for packaging costs, photography, trips to the postage shop etc. So keep tuned here and I will update you on that progress too!
Here's to a profitable Vinted journey for you too.
And if you want to connect with me on Vinted, you can do that HERE.