A MOTHER has shared how she made £234 in just 24 hours without leaving the house.
Molly Hunter, who is from North Yorkshire and is currently on maternity leave, explained that thanks to her simple Vinted tip, she has raked in the cash, and fast.
Social media users were thankful for the helpful advice[/caption]
So if you’ve got loads of clothes that have been sitting in your wardrobe for months and you’re looking to earn some cash quickly, then you’ve come to the right place.
The savvy mum-of-two took to social media to share her advice, as she explained: “So I feel like I can’t gate-keep this and you’ve probably seen it all over your For You page, but this is your sign, if you want to make more money, you need to do this.
“I managed to make £234 in 24 hours and I am mind blown that this actually worked.
“So for a bit of context, I am on maternity leave. I’m 12 months in, I’ve still got another month left, and I’m trying to make a little income on the side where possible.
“I do my partnerships with brands which is great, but obviously I want a constant little flow if I can, alongside my maternity pay.”
The brunette beauty then confirmed: “How I managed to make £234 in 24 hours was Vinted.
“I’ve been seeing it all over my For You page, people saying delete everything off your Vinted and reupload it.”
The content creator shared that she gave the trick a try, as she continued: “I had 110 items but then I had a massive pile to upload, so it actually came to 150 items by the time I uploaded it all.
“I set up a little area in my bedroom, I took pictures of them all on the same background.
“I had a towel ladder, put some nice blankets on it, so that it looked really consistent.
“I did this last Saturday, we are on Friday now, so it’s nearly a week and I am currently sitting at £366 and I have got 86 items left.
“So I’ve not sold all my items, I’m still getting offers and I’m accepting them, getting them posted straight away, so obviously the money will come through as quickly as possible.”
New Vinted rules to be aware of
IF you fancy clearing out your wardrobe and getting rid of your old stuff on Vinted, you’ll need to consider the new rules that recently came into play.
If people are selling personal items for less than they paid new (which is generally the case for second-hand sales), there is no impact on tax.
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 handful of second-hand items online each year – generally, only business sellers trading for profit might need to pay tax.
A tax-free allowance of £1,000 has been in place since 2017 for business sellers trading for profit – the only time that an individual personal item might be taxable is if it sells for more than £6,000 and there is a profit from the sale.
However, firms now have to pass on your data to HMRC if you sell 30 or more items a year or earn over £1,700.
It is part of a wider tax crackdown to help ensure that those who boost their income via side hustles pay up what they owe.
While your data won’t be shared with HMRC if you earn between £1,000 and £1,700, you’ll still need to pay tax as normal.
The side hustler advised Vinted users to give the trick a try, as she concluded: “I did it, and the results have definitely paid off.
“I am so grateful that it worked, because this has really helped me out in my last month of maternity leave.
“And it means I’ll be able to do some really exciting things with the girls before I go back to work.”
SOCIAL MEDIA USERS REACT
The TikTok clip, which was posted under the username @mollyandmine, has clearly impressed many, as it has quickly amassed 21,800 views.
Social media users were thankful for Molly’s advice and many flocked to the comments to express this.
One person said: “I’ve just done this so fingers crossed it works.”
Just done the same, made £100 last week on a couple of items
TikTok user
Another added: “Great advice, I’m just about to set up a Vinted account so this was a great video to come across.”
A third commented: “I have a big bundle to upload so I’m going to do this today!”
At the same time, many confessed that they too have tried this tip and have had success.
One Vinted seller beamed: “This worked for me too! Amazing.”
A second chimed in: “We’ve just done the same, made £100 last week on a couple of items.”
Whilst someone else claimed: “I’ve been doing this for a while and it works!”
Do I need to pay tax on my side hustle income?
MANY people feeling strapped for cash are boosting their bank balance with a side hustle.
The good news is, there are plenty of simple ways to earn some additional income – but you need to know the rules.
When you’re employed the company you work for takes the tax from your earnings and pays HMRC so you don’t have to.
But anyone earning extra cash, for example from selling things online or dog walking, may have to do it themselves.
Stephen Moor, head of employment at law firm Ashfords, said: “Caution should be taken if you’re earning an additional income, as this is likely to be taxable.
“The side hustle could be treated as taxable trading income, which can include providing services or selling products.”
You can make a gross income of up to £1,000 a year tax-free via the trading allowance, but over this and you’ll usually need to pay tax.
Stephen added: “You need to register for a self-assessment at HMRC to ensure you are paying the correct amount of tax.
“The applicable tax bands and the amount of tax you need to pay will depend on your income.”
If you fail to file a tax return you could end up with a surprise bill from HMRC later on asking you to pay the tax you owe – plus extra fees on top.
