Car Boot Sale Limit??

gmc_3

I was helping a friend of mine today at a boot sale and he was told that you are only allowed to do 2 car boot sales in a year and then you are classed as a business? Is this true? He was there last week and today.

The car boot sale also has a market with a lot professional traders and one of them had taken exception to him selling his large collection of video games. The guy (who sells games) was giving him hassle for stealing customers etc. - Basically my friends games weren't cheap enough for this guy to buy and re-sell at an inflated price.

What do you guys think? He's moving in with his girlfriend soon and has loads of stuff to get rid of as does she and they were planning on having a few more to clear out - will it be OK?

soolin

There is no limit if you are only selling your old stuff, you could go every week and have a private selling account on ebay as well and the tax man can be told to go away.

The moment you start buying things to sell on though you are a business, but even then the two car boots a year statement is nonsense.

Awec

There'd be no way of monitoring how many boot sales you attend. That'd be an interesting one.

gmc_3

Thanks for the quick replies. I thought it sounded a bit fishy. The trader was going on about how he had noted the car registration number and he would be 'reporting' him.

soolin

gmc wrote: »

Thanks for the quick replies. I thought it sounded a bit fishy. The trader was going on about how he had noted the car registration number and he would be 'reporting' him.

If you see him again just remark that you would be happy to discuss selling your personal items with HMRC.

chja

Tosh - if you are selling your own private items then it's not an issue. Chances are you will be selling them for less than you paid, so there is no taxable gain.

If you are selling items that you have purchased/made with the intention of selling then that is a busieness and any income is taxable.

Suggest that you tell the trader that you are very happy with your tax position, but wonder whether all of the cash he is taking goes through a bank account !