FAO SC and others who don't declare eBay income to tax office

foxy-lady

I was more than happy to declare being self employed selling on ebay. I knew that i would earn less than my tax code and so would have to pay no tax. However- as i was dedicating 16 hours to ebay i was entitled to help with childcare costs at 70%.
My son loved going to a private nursery for 2 days a week and it only cost me £16.20- should be £54!
I also declared the same when i was an Avon rep.
xx

JohalaReewi

kriss_boy wrote:

I could easily continue to lose money on buying and selling... declare these losses... and will the tax I pay in my full time job will be lowered?!?

If this is true then maybe I should get me own back. If they harassed me for so long about a hobbie that reaped little profits then maybe I should call my current tradings a business, all be it personal and at a loss.

Yes, this is basically true.
If you have full time employment and tell the Inland Revenue that you also do a small amount of self employed work on the side, you will get a tax return to fill in at the end of each tax year. In the self employed bit of the form, you can enter your income, expenditure and capital allowances figures and if you have made a loss on your self employment, you will get a tax rebate from your full time employed tax paid. Obviously, if you made a profit on your self employment, you will have extra tax to pay (and possibly more NI).