Anyone declaring eBay income to the HMRC?

[xcstu]

So baffled by eBay.. so selling 2nd hand parts, clothes and bits and pieces I get to a certain amount of sales I have to pay tax again.. just utter nonsense unless I’m a business surely??

 

[d8mok]

So baffled by eBay.. so selling 2nd hand parts, clothes and bits and pieces I get to a certain amount of sales I have to pay tax again.. just utter nonsense unless I’m a business surely??

No tax is due unless you are a business. Nothing hg has changed apart from the fact that now ebay has to report sales over a certain limit. To make this easier they request the NI number to tie it up to the person

 

[bikeworkshop]

So baffled by eBay.. so selling 2nd hand parts, clothes and bits and pieces I get to a certain amount of sales I have to pay tax again.. just utter nonsense unless I’m a business surely??

AFAIK tax is due on all income, but there's a slightly unspecified amount of sales can be argued as personal.
£5000 springs to mind
And a certain number of cars.

If you sold 10 bikes in a year for £10,000, HMRC could easily ask for it to be added on to your income and taxed accordingly.

(If you then produced receipts to show you'd bought them for £10,000, there would be nothing owing. Some people do this)

You could argue the case, but as a rule they usually win.


Hmrc mostly police those already registered for tax though, so a certain amount of buying and selling is unlikely to draw them in.

Ebay is packed with dealers presenting as multiple private sellers, closing the account as soon as they reach certain thresholds.

 

[Tootyred]

This reminds me of a tv show about "how people survive on benefits ".

They all came on and were followed round and filmed during their normal day.

1st was buying clothes from charity shops and selling them as vintage on ebay.

2nd was buying plants wholesale and selling them / looking after tjem for local offices.

HELLO! You shouldn't be claiming benefits....YOUR RUNNING A BUSINESS!

But this seems to now be quite the norm in society...no wonder hmrc want ebay to tell them when people reach a certain threshold.

 

[Guinessisgoodforyou]

This reminds me of a tv show about "how people survive on benefits ".

They all came on and were followed round and filmed during their normal day.

1st was buying clothes from charity shops and selling them as vintage on ebay.

2nd was buying plants wholesale and selling them / looking after tjem for local offices.

HELLO! You shouldn't be claiming benefits....YOUR RUNNING A BUSINESS!

But this seems to now be quite the norm in society...no wonder hmrc want ebay to tell them when people reach a certain threshold.

Maybe because the benefits weren't enough and they were struggling to make ends meet? Your comment has absolutely nothing to do with the original post though.

 

[bikeworkshop]

If you are on benefits you're more likely to be investigated -

you might be guilty of benefit fraud as well as non-payment of taxes.

 

[Guinessisgoodforyou]

Again nothing to do with eBay

 

[Tootyred]

I thought the question was about tax..and if you should be paying it or not on stuff you sell / do.

Whilst i agree benefits may not be adequate, the tax rules are still the rules.....it goes for those gainfully employed also. The point was not to knock people on benefits, more to point to the fact that this behaviour is seen as quite normal.....else why go on tv to show the world your a benefits cheat! I think people are just blissfully unaware of the rules...hence hmrc inviting help from ebay in "educating " people.

So in answer to the question...if your trading (buying to sell)...pay tax. If not (im selling as I don't want this item i bought originally for personal use)...dont.

 

[Guinessisgoodforyou]

I thought the question was about tax..and if you should be paying it or not on stuff you sell / do.

Whilst i agree benefits may not be adequate, the tax rules are still the rules.....it goes for those gainfully employed also. The point was not to knock people on benefits, more to point to the fact that this behaviour is seen as quite normal.....else why go on tv to show the world your a benefits cheat! I think people are just blissfully unaware of the rules...hence hmrc inviting help from ebay in "educating " people.

So in answer to the question...if your trading (buying to sell)...pay tax. If not (im selling as I don't want this item i bought originally for personal use)...dont.

No, "Anyone declaring eBay income to HMRC" is the thread title.

 

[Takingabreak]

You’ll get a letter asking if you need to declare anything by self assessment.

Then it’s down to whatever you feel fit.

Just reading this thread again from the beginning and wondered if the post from @d8mok could be an opportunity for a tax rebate.

I can't remember the past time I made a profit on anything I sold on ebay, it nearly always sells for less than I paid for it. Filling in a self assessment would capture it as a loss.