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Declaring eBay earnings on Tax Credits review?
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Hopelesswithmoney
Posts: 1,039 Forumite
My DH is giving me serious grief to declare myself as "self employed" on our tax credits Annual Review form (he works full time and I am a Stay at Home Mum to a nearly 3 year old).
I argue that I am just dabbling but I suppose it could be classified as earnings.
I am sure that I am not the only one in this position - anybody else care to comment?
TIA
Hopeless
I argue that I am just dabbling but I suppose it could be classified as earnings.
I am sure that I am not the only one in this position - anybody else care to comment?
TIA
Hopeless
Hopeless by name, hopeless by nature.
0
Comments
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i think if you are only selling your personal possesions from your home you do not have to declare yourself as self employed.
BUT
if you are buying and selling new items i think it is classed as trading.
im sure some friendly moneysaver will correct me though! lol0 -
If you buy to sell, you're self-employed, if you sell your old stuff then your not. If you declare it on the TC form then you have to register with the local IR as well (within 3 months of starting self-employment)Bulletproof0
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How are they going to find out if you don't tell them?2008 Comping ChallengeWon so far - £3010 Needed - £230Debt free since Oct 20040
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Anecdotally most people are found out by ex-partners, "friends" or neighbours, who report them to the Benefits dept as they are aware that they are fraudulently claiming a benefit - and obviously if you claim tax credits without declaring all relevant income then you are technically acting fraudulently.black-saturn wrote:How are they going to find out if you don't tell them?
I would be less worried about the benefits dept then the Inland Revenue getting involved due to suspected tax evasion - they have enormous powers to investigate every aspect of your financial dealings, and i really wouldn't want to mess with them....0 -
Hopelesswithmoney wrote:I argue that I am just dabbling but I suppose it could be classified as earnings.
Perhaps it would help us to give you better/accurate advice if you told us what exactly it is you are selling e.g personal posessions, buying from eBay and re-selling, buying from wholesalers and then selling on eBay.-->♥<-- Sugar Coated Owl -->♥<--
If you believe, you will survive - Katie Piper
Woohoo! I'm normal! Gotta go tell the cat.0 -
There was a short thread about this recently...
http://forums.moneysavingexpert.com/showthread.html?t=204614
Check out reply #2 from Soolin.
This seems to sum it up nicely.0
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