Selling on ebay whilst BR

JCS1

dollparts wrote: »

Really? Then what happens to it?

OR cashes in all premium bond, even the ones for a £1.

kepar

I lost my £1 premium bond too.

Tupperware_Queen

I was warned that would happen and cashed mine in myself...used the money for moving expenses

Heycock

That's unbelievable! If you were left with it, it would remain in the draw with the possibility of a win and a full payoff to your creditors. Once transferred to the OR it becomes void as far as the draw is concerned and only retains it's face value.

Tupperware_Queen

Heycock wrote: »

That's unbelievable! If you were left with it, it would remain in the draw with the possibility of a win and a full payoff to your creditors. Once transferred to the OR it becomes void as far as the draw is concerned and only retains it's face value.

a bird in the hand...

JCS1

Heycock wrote: »

That's unbelievable! If you were left with it, it would remain in the draw with the possibility of a win and a full payoff to your creditors. Once transferred to the OR it becomes void as far as the draw is concerned and only retains it's face value.

And what happened if a person got the big one million pounds after discharge and decided not to pay anything and keep it all? Can you imagine the headlines in some papers if it became public knowledge.

BB&B

There is the technical answer, which is that the transactions should be declared to both the OR and HMRC.

There is the pessimists answer, which is you have to tell everyone in case you get found out and prosecuted

There is the optimists answer, Shhh don't need anyone cos no own cares

There is the life answer, its your stuff, you can do what you want with it.

There is the Unofficial ORs Answer, its your stuff you can do what you want with it, if your doing a SMALL amount of wheeler dealing we don't care, IF ITS BIG BUSINESS WE DO WANT TO KNOW.

For offical OR views, they use this guidance, so you can decide yourself:

http://www.hmrc.gov.uk/guidance/selling/examples.htm

Tim