A MUM has shared that it’s possible to make thousands of pounds on Vinted even when you’re selling stuff for just £1.
VINTEDVinted has millions of users across the UK[/caption]
One mum made £1k in a matter of monthsTikTok/@jodiriix
The mum-of-one shares snippets of her Vinted journey on social media and jokes that she’ll be a top seller in a few years.
In one video, she revealed that flogging her old clothes made her £1000.16 while on maternity leave.
Most of the items she sold were originally purchased in high-street retailers like Zara, Topshop and H&M.
However, she also sold items from sports brands like Nike and Adidas, as well as unused make-up products, for higher prices to bump up her total.
Financial pressures in British homes saw sales of second-hand goods jump by 15% to £21 billion in 2022.
One in six people now say they buy used items, according to research commissioned by review site Trustpilot.
So, now’s the perfect time to make yourself some extra cash on the likes of Vinted.
Jodi shared that she has been successful because she’s “had a shopping addiction for over ten years” and “is a complete hoarder”.
If that sounds like you too, you could be on to a £1k winner.
She added that you have to sell everything for “a fraction of the price you paid”.
Selling second-hand clothes on Vinted for less than you paid in the store is very important to stop yourself being slapped with a hefty fine.
Selling for profit makes you a reseller and means you’ll be expected to fill in a tax return and pay what they owe the HMRC every year.
The taxman is also going directly to Vinted as of January 1 this year, making the app responsible for recording the same information and handing it over to HMRC.
Those who don’t sell very often or as a profitable side hustle don’t need to worry.
If you make no more than £1,700 for fewer than 30 sales in a reporting period, information is not required to be provided to HMRC.
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