Self Employed/Second income

kriss_boy

greeneye wrote: »

No there guitars.

Remember you have I think it's £4,500 CGT allowance each year as do other members of your family etc
Although this is dodgy ground and obviously isn't a solution if you want to start trading heavily.

No. I used to be a self employed guitar trader on ebay but theres no longer any money in guitars. Add to that the fact that your spending 10K a month on the internet, which has become more n more susceptible to fraud, its no longer worthwile.

Each guitar was approx a grand, but the thing I buy now ranges from 99pence up to a couple of hundred for a massive bundle!

So how does capital gains tax work?

Could I store some of the product in my loft rather than selling it? So to keep it till its worth even more?

greeneye

kriss_boy wrote: »

No. I used to be a self employed guitar trader on ebay but theres no longer any money in guitars. Add to that the fact that your spending 10K a month on the internet, which has become more n more susceptible to fraud, its no longer worthwile.

Each guitar was approx a grand, but the thing I buy now ranges from 99pence up to a couple of hundred for a massive bundle!

So how does capital gains tax work?

Could I store some of the product in my loft rather than selling it? So to keep it till its worth even more?

Oh I remember what it is now Kriss
Just PM'd you.

Sugar_Coated_Owl

Ooooh secrets