A mum revealed she made £500 on Vinted in just two weeks and shared her top tips for generating sales.
Vinted is an online marketplace where people can buy and sell second-hand clothing, shoes and accessories.
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Uploading clothes to the app is completely free and Vinted doesn’t take a cut of sellers’ profits, instead charging buyers a small fee for each item.
Only known as @mrsinkeduk Online, the mother revealed that she uses the money she earns on Vinted to pay for her daughter’s school trip.
Keywords
She explained that the main reason she thinks her items sell so quickly is the words she uses in the description.
“You have to type in everything you think these dresses are,” she said.
“For example casual, formal, tight, bodycon.
“You want as much information in the description as possible so that the person searching sees your item first.”
The mother added that she prefers to write complete sentences rather than just putting words in the description, so she can take potential buyers on a journey.
“This beautiful dress can be worn in formal situations at work, for example, and casually on the weekend.”
The video has probably made a big impression on people, as it has already been viewed more than 48,000 times on the video platform.
TikTok users rushed to the video’s comments section to share their thoughts.
Someone said, “I like that people put little stories in the description.
“Sometimes I just search for ‘casual work wear’ or ‘wedding guest’. That really works!”
Do I have to pay tax on items I sell on Vinted?
FAST tax facts from the Vinted team…
- The only time an item is taxable is if it sells for more than £6,000 and there is a profit (sells for more than you paid for it). Even then you can use your £3,000 tax-free capital gains allowance to offset it.
- Generally, only business sellers who trade for profit (buying goods with the intention of selling them for more than they paid for them) are required to pay tax. Business sellers who trade for profit can take advantage of a £1,000 tax-free allowance, which has been in place since 2017.
- More information here: vinted.co.uk/no-changes-to-taxes
A second person said, “Well done!”
A third person said: “I love this.”
Online marketplaces like Vinted and Depop have millions of users in the UK and the cost of living crisis is only making them increasingly popular.
Financial pressures on UK households saw sales of second-hand goods rise 15 per cent to £21 billion in 2022.
According to research commissioned by review site Trustpilot, one in six people say they now buy second-hand items.
So this is the perfect time to make some extra money on sites like Vinted.
According to the popular platform, sellers do not have to pay taxes on the revenue they generate through the site.
According to HMRC, this is because the sale of personal items through platforms such as Vinted is not taxable in itself.
“If the money a member earns on Vinted in a year is less than the amount he paid for the items he sells, he does not have to pay tax,” a Vinted spokesperson explains.
”In general, only sellers who ‘trade’ for profit have to pay taxes.
“Since 2017, there has been a £1,000 tax-free allowance for people trading for profit.”
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