Accountants for Trading Card Sellers

Specialist accountants for UK trading card sellers. Whether you sell Pokemon, One Piece, Yu-Gi-Oh or Magic The Gathering, the VAT and tax rules around your business are more complex than most accountants realise. We understand them inside out.

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Specialist accountants for trading card sellers across the UK

Rhombus Accounting is a UK accountancy firm based in Goole, East Yorkshire, specialising in VAT Margin Scheme businesses. Trading card sellers are one of our key client groups.

No blank looks when you mention sealed vs second-hand stock, grading costs, box breaks or live selling on Whatnot. We understand how the trading card market works and, more importantly, how it needs to be accounted for.

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“I started my Ltd in 2024 and I couldn’t have made a better choice than Rhombus, If I could rate higher I would, Appreciate all the work and support provided whenever it’s required.”

SIXONESIX.TCG LTD

Most accountants lump trading card businesses in with generic online selling

They do not understand the difference between sealed and second-hand VAT treatment, the Margin Scheme record keeping rules, or what DAC7 reporting means for your risk exposure.

  • Declaring all income from every platform and sales channel

  • Tracking purchase cost of individual cards for the Margin Scheme

  • Keeping records HMRC can verify in the event of an enquiry

  • Filing Self Assessment returns consistent with DAC7 platform data

  • Managing VAT correctly if turnover approaches the threshold

  • Planning your business to minimise tax as you grow

Everything a trading card seller needs

01

Bookkeeping

Built around how card businesses actually work: platform payouts, private sales, card show income, stock purchases, grading costs, shipping, refunds and fees.

04

DAC7 compliance

We reconcile your declared income with what Whatnot, eBay and TikTok Shop have reported to HMRC, so there are no inconsistencies for HMRC to flag.

02

VAT Margin Scheme

Second-hand singles from private sellers may qualify. We ensure correct application, strict record keeping and a position HMRC cannot challenge.

05

Limited Company advice

If you are scaling significantly we will run the numbers on whether incorporation makes sense and advise on the right structure for your situation.

03

Self Assessment and Corporation Tax

All income declared across every channel. Figures that align with what DAC7 platform reporting has already sent to HMRC. Every expense claimed.

06

Tax planning

Timing stock purchases, managing the VAT threshold, structuring profit extraction and planning for growth. Practical advice that saves you money.

Every cost you can claim

  • Stock purchases (sealed cases, singles, collections)

  • Shipping and packaging materials

  • Payment processing fees

  • Card show stall fees and travel to events

  • Streaming and content creation equipment

  • Grading and authentication fees (PSA, BGS, CGC)

  • Platform fees (Whatnot, eBay, TikTok Shop)

  • Storage costs

  • Marketing and photography costs

  • Use of home as office

Watch dealer tax questions, straight answers

  • Yes. If your gross trading income exceeds £1,000 in a tax year you need to register as self-employed and file a Self Assessment return. This applies whether you sell full-time or part-time.

  • Yes. Under DAC7 rules, platforms including eBay, Whatnot and TikTok Shop share seller income data directly with HMRC. Your declared income must be consistent with what they report. Discrepancies significantly increase the risk of an HMRC enquiry.

  • In some cases, yes. The scheme may apply to second-hand individual cards and slabs purchased from private individuals where you can evidence the purchase price per item. Sealed product is not eligible and is subject to standard VAT. The record keeping requirements are strict.

  • Selling cards from a personal collection is generally treated as a capital disposal rather than trading income. However, if you are buying cards with the intention of reselling, they are business stock from the moment of purchase. Mixing personal and business stock creates problems for your tax position and makes Margin Scheme records difficult to maintain.

  • It depends on your profit level. A limited company can offer meaningful tax savings once profits reach a certain threshold but comes with additional filing requirements. We run the numbers and give you an honest view on whether it makes sense at your current stage.