Guides
The questions dealers ask their accountant, answered properly and with the notice number. Written for the UK trade.
General information, not tax or legal advice. Every article says where it is uncertain rather than guessing.
Compliance
Do I need to register as a High Value Dealer?
If you accept or make cash payments of £10,000 or more for goods, you must register with HMRC before you take the money. The threshold changed on 30 June 2026.
8 min · updated
How do I check whether a watch is stolen before I buy it?
Run the serial through The Watch Register before you pay. Buying in good faith gives you no title to stolen goods - you lose the watch and the money you paid.
8 min · updated
Pawnbroker vs gold buyer vs 'cash for gold': what each is allowed to do, and who regulates it
A pawnbroker lends against your gold under the Consumer Credit Act and needs FCA authorisation. A gold buyer buys outright and answers to HMRC if cash hits £10,000.
10 min · updated
Gold
How do gold buyers make money, and how much do they pay?
A gold buyer pays a percentage of melt value and sells the lot to a refiner at a higher one. The gap is usually 5-25 points. The maths, with a worked example.
10 min · updated
How is the scrap gold price per gram worked out in the UK, and why do buyers pay less than spot?
Per-gram value is spot per troy ounce / 31.1035 x fineness (375, 585, 750, 916, 999). UK buyers then pay 70-90% of that. Worked example, dated, and a calculator.
9 min · updated
Where is the best place to sell scrap gold in the UK?
For plain scrap: a buyer or refiner counter that publishes a per-gram rate and pays 90%+ of melt. For signed, antique or stone-set pieces: auction or a jeweller.
9 min · updated
XRF gold tester vs acid test vs electronic tester: what each costs and what each misses
Acid kits cost £50-£85, electronic testers £350-£700, XRF £10,000-£30,000. Each misses something - plating, tungsten, white metals. Which a counter needs.
10 min · updated
Risk and insurance
Running the business
How do I start a gold buying business in the UK?
No licence to buy scrap gold in England and Wales, but £10,000+ in cash means HMRC High Value Dealer registration, trade-approved scales, and reverse charge VAT on scrap.
9 min · updated
How to authenticate a designer handbag: what to check, and Entrupy vs Real Authentication vs LegitGrails
Check stitching, hardware, heat stamps and the code yourself, then pay a service: Real Authentication from $30, LegitGrails from $15, Entrupy from $139 a month.
9 min · updated
How to authenticate a watch before you buy it: what dealers check, and the authentication services compared
Check the watch, then the papers against it, then the serial against the theft database; pay a watchmaker for anything valuable. Services and costs compared.
9 min · updated
How to price a pre-owned watch: market data sources compared (Chrono24, WatchCharts, Subdial, EveryWatch and the rest)
Price from sold comparables, not asking prices, then adjust for papers, service and channel fees. What each data source publishes and costs, and two numbers to track.
9 min · updated
How to start a consignment shop in the UK: costs, the agreement, splits, payouts and VAT
Stock costs nothing, so the money goes on premises, insurance for goods you do not own, authentication and software. The agreement and VAT position decide the rest.
10 min · updated
How to start a jewellery business in the UK (2026): costs, hallmarking, insurance, VAT and the first year
Fees are small: £100 company, about £100 hallmark registration, VAT only from £90,000. Hallmarking, Jewellers Block, the margin scheme and £10,000 cash are the traps.
11 min · updated
How to start a watch dealing business in the UK (2026): capital, sourcing, VAT, AML and the first ten watches
Trading capital, a stock book from day one, the margin scheme, the £10,000 cash rule, a serial check on every buy and one channel you have costed. The sequence.
10 min · updated
Selling channels
Best place to sell a watch in the UK: dealer, Chrono24, eBay, Watchfinder, Subdial or auction - what each actually pays
A dealer or Watchfinder pays fastest and least; Chrono24 takes 6.5%; eBay is free to private sellers; Fellows takes 15% plus VAT and fees. Net, speed and risk.
9 min · updated
Best reselling apps in the UK (2026): by category - clothes, bags, watches, jewellery, sneakers
No single best app. Vinted or Depop for clothes, Vestiaire or eBay for bags, Chrono24 or eBay for watches, StockX or eBay for sneakers - every UK fee checked.
10 min · updated
Chrono24 alternatives for UK dealers: eBay, Watchfinder, Catawiki, auction, your own site and the trade
Eight alternatives with published fees: eBay at 12.9% then 3%, Fellows at 15% plus VAT, Catawiki at 12.5%, Watchfinder, Shopify at £25 a month, the trade at 0%.
9 min · updated
Chrono24 vs eBay for selling watches: fees, buyers, protection and what a dealer actually nets
eBay UK charges a business seller 12.9% to £750 then 3%, plus 40p and 0.35%; Chrono24 charges dealers a €199-€2,199 package plus an unpublished commission.
8 min · updated
How do I get my stock listed on Chrono24 from my own system?
Chrono24 pulls an XML or JSON feed from a URL you host, once a day, from two fixed IPs. Setup takes 2-3 weeks. There is no order retrieval coming back.
7 min · updated
Shopify vs Etsy vs WooCommerce for a jewellery business: fees, control and the stock-sync problem
Etsy takes about 11% of a UK sale but brings buyers; Shopify is £25-£65 a month plus 2% + 25p; WooCommerce is free plus hosting. None suits one-of-a-kind stock.
10 min · updated
Vinted vs Depop vs eBay for UK resellers: fees, buyers, protection and where each category actually sells
In 2026 none of the three charges a UK private seller a selling fee. Business sellers pay eBay 9.9-14.9% plus 0.35% and 30-40p; Depop takes 2.9% plus 30p processing; Vinted Pro is free. Here's the detail, dated.
10 min · updated
What does Chrono24 actually cost a dealer in 2026?
Published listing packages run €199 to €2,199 a month. Dealer commission is dynamic and Chrono24 does not publish it - here's what is verifiable and what isn't.
7 min · updated
Software
Accounting software for jewellers: Xero vs Sage vs QuickBooks with the margin scheme, scrap gold and repairs
Xero, Sage, QuickBooks and FreeAgent all file UK VAT. None does margin scheme VAT, the stock book or gold reverse charge wording; a stock system must sit in front.
9 min · updated
Accounting software for watch dealers: Xero vs Sage vs QuickBooks vs FreeAgent and the margin scheme problem
None of the four big UK packages handles the VAT margin scheme natively. Choose on price and VAT workflow, keep the stock book elsewhere, post one journal a quarter.
10 min · updated
Best consignment software for UK resale shops in 2026: Ricochet, ConsignCloud, SimpleConsign, ConsignPro, Liberty, Shopify apps and Milleso compared
Most consignment software is American and priced in dollars. ConsignCloud is the most usable from the UK; Shopify plus a consignment app is the cheapest; none of them model UK VAT on consignment.
10 min · updated
Best cross-listing apps for UK resellers in 2026: Crosslist, Vendoo, Zipsale, SellerAider, Nifty, List Perfectly, Flyp and OneShop compared
Only Crosslist, Vendoo, Zipsale and SellerAider work for UK sellers. Crosslist is the one with reliable Vinted support; List Perfectly, Flyp and OneShop are US-only. Prices and marketplaces, dated.
8 min · updated
Best jewellery shop software in the UK (2026): Clarity & Success, Jewel-Master, Pursuit, PrismaNote, The Edge, Jewel360, Lightspeed, Shopify POS and Milleso compared
Clarity & Success, Jewel-Master and Pursuit are UK-built; PrismaNote and GemJam are the new entrants; The Edge and Jewel360 ignore VAT. Scored on the margin scheme and GBP price.
11 min · updated
Best watch inventory software for dealers in 2026: Elefta, Uploadify, WatchTraderHub, WatchDealerInventory, WatchTrack, Worldwatch, VaultOS and Milleso compared
Twelve watch dealer systems compared on price, channels and UK VAT fit - including the 2026 wave AI assistants recommend, and the two names that don't check out.
10 min · updated
Bransom is now Clarity & Success: what UK jewellers on Bsmart should do next
Clarity & Success bought Bransom on 11 June 2019; bransom.co.uk now redirects to Clarity. Bsmart is supported for now. How to move without losing your stock book.
9 min · updated
Bravo vs PawnMaster vs PawnMate: which pawn system, and which UK problems does each one ignore?
Bravo is the cloud platform from $99/month, PawnMaster its on-premise line, PawnMate the cheaper rival with no published price. None handles UK pawn receipts or VAT.
9 min · updated
ConsignCloud vs Ricochet vs SimpleConsign: pricing, payouts and which one copes with UK VAT
ConsignCloud is $139-$189 a month and works from the UK with Stripe; Ricochet is $199 plus $100 if you skip its US processor; SimpleConsign is $159-$359. None handles UK VAT on consignment.
8 min · updated
Elefta vs Uploadify vs WatchTraderHub: which watch dealer software fits a UK dealer?
Elefta is a B2B marketplace with inventory at $149, Uploadify a multi-marketplace lister from $75, WatchTraderHub a euro system with margin scheme invoicing.
7 min · updated
Free pawn shop and gold buying software: what 'free' actually gets you, and what it costs later
No free, maintained pawn system meets UK rules. What exists: free trials, a US product free if you take its card processing, dead open-source code and spreadsheets.
10 min · updated
Gold buying software: what does a UK gold desk actually need?
A UK gold desk needs spot x fineness x weight, seller ID, reverse charge invoicing, a £10,000 cash monitor and an investment gold register. What each option misses.
9 min · updated
Jewellery inventory management in Excel: a stock list that works, and when to stop
About 25 columns: the 12 margin scheme fields, metal, fineness, weight, stones, location, status. The template, how it breaks, and when to stop.
9 min · updated
Jewellery POS systems compared for the UK: Shopify POS vs Lightspeed vs Square vs Zettle vs jewellery-specific tills
Generic tills cost £0 to £189 a month at 1.5% to 1.75% per card, but none does part-exchange, margin scheme receipts or serialised stock. The jewellery tills do.
9 min · updated
Jewellery repair tracking software: the envelope, the job card and the systems that do it
A repair system must print the envelope, move jobs through stages, notify the customer and count customers' property apart from stock. Nine options compared.
10 min · updated
Jewellery valuation software compared - and what a valuation should cost the customer
UK valuers use GuildPro, Instappraise or Jewellery Valuer Pro; shop systems add thin appraisal modules. Customers pay about £60-£110 an item, by time not value.
11 min · updated
List Perfectly vs Vendoo: plans, marketplaces supported and what each costs a UK reseller a year
List Perfectly is $29-$249 a month and says it supports US marketplaces only. Vendoo has UK pricing from £16.99 a month for eBay, Depop, Etsy, Facebook Marketplace and Whatnot - not Vinted.
7 min · updated
Running watch stock on a spreadsheet: the template that works, and the day it stops working
A dealer's spreadsheet needs about 30 columns including the twelve HMRC stock book fields. It works to about 50 pieces and one channel, then fails in five ways.
9 min · updated
Shopify consignment apps compared: what each does for consignor payouts, and when you need a real system
Nine Shopify consignment apps from $9.99 to $339 a month compared - and what none of them do for a UK luxury reseller: margin scheme, serials, authentication.
9 min · updated
The Edge vs Jewel360 vs Lightspeed for a UK jeweller: what the US systems get wrong about VAT
The Edge is a Windows install on a one-off licence, Jewel360 is cloud from US$199 a month, Lightspeed is £75 to £189 in the UK. None handles the margin scheme.
9 min · updated
What is the best pawnbroker and gold-buying software for the UK in 2026?
Only UK-native systems (Clarity & Success, Nospos, Prism) handle the CCA pledge book; Bravo, PawnMaster, PawnMate and PPSS are US-only. Milleso does the gold desk.
10 min · updated
VAT
Can I use global accounting for a mixed scrap lot?
Partly. Global accounting is barred for precious metals and stones, so a mixed lot splits into two regimes at intake - and no item may have cost over £500.
8 min · updated
Consignment accounting for UK resellers: is consigned stock an asset, who charges VAT, and the margin scheme
Consigned stock is not your asset. Book the consignor's share as a liability and your commission as income; for VAT you are an agent or a margin-scheme principal.
10 min · updated
Do I charge VAT on scrap gold?
Sell scrap gold at metal value to a VAT-registered business and you do not charge VAT - the buyer accounts for it. The rule, the wording, the exceptions.
7 min · updated
Selling investment gold: when do I have to tell HMRC?
Within 28 days of your first exempt supply over £5,000, or £10,000 to one customer in 12 months. Plus the register, the ID rules and a 17.5% penalty.
8 min · updated
What is a margin scheme stock book and what must it contain?
The item-by-item record HMRC requires under the VAT margin scheme: twelve mandatory columns, no separate VAT, six years, and what happens without one.
7 min · updated
What is the VAT margin scheme for second-hand watches?
Under the margin scheme you pay VAT on the difference between what you paid for a watch and what you sold it for - not the full price. Rules, records and traps.
8 min · updated