HMRC digital platform reporting

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whois-search

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I note the HMRC digital platform reporting deadline today aka ‘Side Hustle’ Tax:


Does anyone know if this will apply to UK based owners of domain auction platforms?

The rules here are not very helpful:

www.gov.uk

Check if you need to carry out digital platform reporting

Check if you need to tell HMRC if you’re in the UK and run a digital platform that lets users sell goods or services.
www.gov.uk www.gov.uk

Or are they only after users of eBay or Vinted etc ?
 
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Another reason to offshore any such platform?
 
There are a few UK based platforms like: Flip.uk

But I was thinking along the lines of 123-reg (Godaddy UK) selling customer names:

www.123-reg.co.uk

Make profit from your portfolio - Sell your domain names

Got a domain name you want to sell? Find out how you can go about learning the value of your domain and then selling in this guide
www.123-reg.co.uk

Or anyone setting up a new one ;)

www.greywing.uk

Dutch Auction for Domains - GreyWing.uk

Explore how Dutch auctions can revolutionise domain sales with a transparent and dynamic pricing model.
www.greywing.uk www.greywing.uk
 
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whois-search said:
Or anyone who setting up a new one ;)
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Oh, I was going to keep that sales platform to just myself selling off my own names rather than opening it up to other people. The software is there for people to submit and sell their own names, but I wanted to just downsize my own portfolio rather than run another business. The real money in the developing the software is going to be in the HGV.uk side. It's almost identical to the domain sales, except the prices go up rather than down. The haulage industry is considerably bigger if I can get it right.

It was more a test to see if it was good fun way to sell domains and learn the coding at the same time.
 
Good luck with this @GreyWing, irrespective of whether you decide to open it up to other domainers or not.

Wasn't @rdce80 planning to introduce Dutch auctions to DNWE and/or Flip? Did anything come of that?
 
Jeff said:
Wasn't @rdce80 planning to introduce Dutch auctions to DNWE and/or Flip? Did anything come of that?
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I heard recently that that was the case. I'd been trying to get the software to do it for around 10 years, I think I've been ranting one about it for that long.

Now I have worked through the issues I can see why if Ryan had also been looking at for a while, why he was never able to make it work. Unless you are a programmer yourself, it's difficult to really work through all the problems by offloading it to a developer who doesn't know really what you are asking for.
 
Surely it's not hard to program this. Even if you had a simple set up i.e. datetime fields in the SQL table for auction start and end times, and a value for the amount in £ for the daily/ hourly price decrement, you could determine the current price on the fly using PHP functions like date(), mktime(), DateTime::diff etc. It's just a case of seeing how much time has passed from the start time and how many decrements would need to be applied to the initial price to determine the current Buy price.
.
 
Jason said:
Surely it's not hard to program this. Even if you had a simple set up i.e. datetime fields in the SQL table for auction start and end times, and a value for the amount in £ for the daily/ hourly price decrement, you could determine the current price on the fly using PHP functions like date(), mktime(), DateTime::diff etc. It's just a case of seeing how much time has passed from the start time and how many decrements would need to be applied to the initial price to determine the current Buy price.
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You are right, the programming isn't hard, infact AI nailed it for me in a few minutes. It's the trying to keep the flow simple so that people know what's going on. Trying to get one picture of how it all will work at the beginning of the process and handing it off to a developer is the difficult part. A lot of it was trial and error and walk back and start bits again as you knew they wouldn't work.

For example, do you let everyone just do what they want? Choose their own start time? Choose their own duration, choose their own reserve. Do you have a verification process? Do you have a time out zone, creating a pre sale time out zone where hgv jobs (domains in this case) stay for x amount of time before they go live. Ideally you don't just want auctions popping up out of nowhere and starting immediately as that's money someone may have paid the seller. On mine I have a 48 hour holding zone so people can see what is starting and when.

All this could be done manually, but it's a lot of work. I had to go back and forth many times on the design of the flow and get it all automated. If I was to do it all again, yes you are right it would be a lot easier to do. A lot of the lessons learnt on this will make the HGV project much much easier for me, so in a way, it's already a big success for me..

I have Was.co.uk + .uk starting tomorrow at 14:00 I think.

Just doing a few things to the site this evening then it will be back later so if people want to try it they can. Go easy on the feedback :ROFLMAO::ROFLMAO:
 
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My (hopefully constructive) feedback is that it's way too slow.

The whole point of Dutch auctions is that they're fast, and the flower auctions from which they take their name are very fast indeed - usually lasting less than a minute each.

I'm not suggesting that sort of speed, but I don't see why a domain auction starting at £10k with a reserve of £1k needs to take more than an hour.

A reduction of £9k over 3600 seconds equates to £5 every 2 seconds, £10 every 4 seconds etc, which enables a potential buyer to follow the auction continuously until the domain reaches a price they're willing to pay.
 
The eyeballs are just not there in the UK domainer market to have it fast Dutch auctions? Rather than a flower market it’s more of slow tyre kicking car auction.

I used to list names on Flip.uk for 7 days to get anything sold with a 3pm workday end time.

Online you also have people in different countries (time zones) and working hours.
 
Yes, people are busy. Not everyone would remember to join the auction at a specific time on a given day, and if it's only on for an hour the auction could easily fail to bring together all the interested parties resulting in no sale or a bad price.

But if the domain is in auction for a week, even if some forget about it at the beginning, there's a good chance nobody else will have bought it at the top price in the beginning, so there's more time for people to join the party.

But some of the energy and pressure of the fast nature of the Dutch flower market could be incorporated if there are small decrements every 10 minutes or hour, versus dropping say 10% each day. The supply and demand would also be more efficiently met too. For instance let's say a 10 day auction where the price drops 10% per day, if the price were dropping by 1/240 every 10 minutes, buyers would be looking at it thinking this is getting into bargain territory now, there's a good chance someone else could snap this up any time, so I'm going to go for it to avoid losing it. Whereas if it were to drop 10% at midnight, people throughout the day would see that no-one else is interested at today's price, so may as well hang on until midnight and try and grab it for 10% less. The seller would then miss out on several %.
 
Was.co.uk and .uk is now live

Was.co.uk + .uk

www.that.uk www.that.uk

It's a genuine offer to sell, not a test. Any potential buyer would need to register first, it's a two minute and you can self approve.
 
whois-search said:
I used to list names on Flip.uk for 7 days to get anything sold with a 3pm workday end time.

Online you also have people in different countries (time zones) and working hours.
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Jason said:
Yes, people are busy. Not everyone would remember to join the auction at a specific time on a given day, and if it's only on for an hour the auction could easily fail to bring together all the interested parties resulting in no sale or a bad price.

But if the domain is in auction for a week, even if some forget about it at the beginning, there's a good chance nobody else will have bought it at the top price in the beginning, so there's more time for people to join the party.
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There is a feature on the site where you can pre-book your bid, so say when it gets to £100, buy now. There is no need to be waiting online for it to manually drop to that price.
 
Jason said:
But some of the energy and pressure of the fast nature of the Dutch flower market could be incorporated if there are small decrements every 10 minutes or hour, versus dropping say 10% each day.
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This site does that, I've set it so that the price drops automatically every 10 minutes. I did set it at 15, but reduced it to 10.

The auction for was co uk will give you an idea of how the system works and what info it gives out
 
GreyWing said:
This site does that, I've set it so that the price drops automatically every 10 minutes. I did set it at 15, but reduced it to 10.

The auction for was co uk will give you an idea of how the system works and what info it gives out
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Looks like it's working very well. Nice to see someone developing something a bit different. Good luck with this Graeme and good luck with your first auction!
 
Jason said:
Looks like it's working very well. Nice to see someone developing something a bit different. Good luck with this Graeme and good luck with your first auction!
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Cheers @Jason @rob for the kind words.

I do have some decently big updates coming forr the next auction. Sadly I don't think it's safe to put them live whilst the current auction is running. I do apologise to people that I told the pre-bid system was going live for this auction.

I took the pre bid system down and worked on it, when it goes back live users will be able to submit pre-bids, and be able to alter them anytime to the time they end the auction. I can't articulate the number of times that I have thought a certain name was excellent, gone to bed, woke up the next morning and prayed for someone to outbid me :ROFLMAO: :ROFLMAO:

I'm going to change that so people don't have that feeling, pre bids can be edited along the way. I've tested it and that works fine.

After this auction is done, I'll launch in some more updates and throw in some test auctions for people to test bid on so they can get a sense of how it all works without buying anything real.

Then I'll throw some more real names on.
 
The Catch-Bid system should now be working. Users don't need to sit about and wait until the right moment.

The system will activate when the live price drops below your Catch-Bid figure. If there are two users in the same bracket, it will select the userwith the highest price.

For example if the live price is £1000 and dropping £50 every update, and there are two users with Catch-Bids - one of £960 and one of £970. On the next drop, the system will select the user with the £970 bid.

If you change your mind, you can either enter a new catch bid amount on the auction page and that will override the old one, or you can head into "My Account" and see all of your catch bids for all names and update it there.
 
It would be funny if when two users have very close Catch-Bids, it pushed both users into a 24 hour normal auction with the price then going back up!
 
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