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fairclaire wrote: »Have been ambling back over the few days that I've missed tonight. I see a lot of car boot sales talk. I'm not interested what folks do or don't do or sell or not sell at car boots or what profits they make. It's up to the individual.
I would like to say for people that don't know.....and it's never mentioned on here.....buying stuff to sell for a profit at car boots is considered as income for tax purposes. And since April last year HMRC have a campaign going to catch people who make extra income this way. Not just car booters.....eBay sellers, Avon ladies :eek: Ann Summers party reps :eek:
https://www.gov.uk/government/publications/second-incomes-campaign-your-guide-to-making-a-disclosure/second-incomes-campaign-your-guide-to-making-a-disclosure
it might not worry most and some will think it doesn't affect them but a large booty on my doorstep was targeted last year and a few prosecutions were made.
HMRC are ruthless and they will make you pay back if you are caught.
I'm only saying for the people who asked for booty advice and just got the profit making side of things
I represented someone who got caught up in this and I lostthe person had to pay 100% tax back
Out of interest, as you have raised it, what would happen if someone decided to divest themself of their stash through car boots or eBay if it genuinely was not bought with the intention of selling it? We know many of us buy when there is a good glitch and the quantities involved "sometimes" are perhaps more than "normal people" may buy under normal circumstances, which may be difficult to explain even when we have done nothing wrong.
Just to be clear, I haven't sold anything and all has been bought for personal use (... at some point) as I have neither the time nor inclination to sell any - I do have a few years worth of some items though.
Many thanks
Anon0 -
fairclaire wrote: »Have been ambling back over the few days that I've missed tonight. I see a lot of car boot sales talk. I'm not interested what folks do or don't do or sell or not sell at car boots or what profits they make. It's up to the individual.
I would like to say for people that don't know.....and it's never mentioned on here.....buying stuff to sell for a profit at car boots is considered as income for tax purposes. And since April last year HMRC have a campaign going to catch people who make extra income this way. Not just car booters.....eBay sellers, Avon ladies :eek: Ann Summers party reps :eek:
https://www.gov.uk/government/publications/second-incomes-campaign-your-guide-to-making-a-disclosure/second-incomes-campaign-your-guide-to-making-a-disclosure
it might not worry most and some will think it doesn't affect them but a large booty on my doorstep was targeted last year and a few prosecutions were made.
HMRC are ruthless and they will make you pay back if you are caught.
I'm only saying for the people who asked for booty advice and just got the profit making side of things
I represented someone who got caught up in this and I lostthe person had to pay 100% tax back
Thanks FC, I actually have only a few 1p chocs to sell as I realsed after buying them that not many of my friends/family like dark chocolate. I have the odd superdrug bargain but not lots of one thing or another. I tend to buy glitchy stuff that I will use so don't have huge stashes of any particular thing to sell. I've been looking at what I have to sell and it is mainly computer games, books, old dress up outfits. I do have a couple of new items of clothes that I missed the returns deadline for so will sell those. Oh, and lots and lots of teddies
The plan is to make some space for useful stashes as my cubby holes are crammed full of the kids old stuff. If we can make some money clearing out it will be a bonus but I'm not expecting to make a huge amount or to make it a regular thing but would like to declutter more often in future.
I did worry about selling new stuff but I think for the amount I have it shouldn't be a problem.0 -
Out of interest, as you have raised it, what would happen if someone decided to divest themself of their stash through car boots or eBay if it genuinely was not bought with the intention of selling it? We know many of us buy when there is a good glitch and the quantities involved "sometimes" are perhaps more than "normal people" may buy under normal circumstances, which may be difficult to explain even when we have done nothing wrong
.
Many thanks
Anon
The proof is in the proverbial pudding Anon. If you can genuinely prove it was bought for personal use and not needed/wanted....then yes. That *might* be acceptable.
I ws referring to people buying 3 figures of hand washes and selling them on 2/3 days later. you cannot in any way justfy that as personal use. you are buying purely to sell and HMRC would have a right to see receipts, and APG if it came to that? They are not stupid. They have a computer system that sees our bank accounts, what properties we own....even what cars we drive. if they want to investigate they can.
They have come down heavily on eBay sellers this year. And as someone who has this year moved up to paying 40% of my wages taxes.....:o I dont disagree0 -
Thanks FC, I actually have only a few 1p chocs to sell as I realsed after buying them that not many of my friends/family like dark chocolate. I have the odd superdrug bargain but not lots of one thing or another. I tend to buy glitchy stuff that I will use so don't have huge stashes of any particular thing to sell. I've been looking at what I have to sell and it is mainly computer games, books, old dress up outfits. I do have a couple of new items of clothes that I missed the returns deadline for so will sell those. Oh, and lots and lots of teddies
The plan is to make some space for useful stashes as my cubby holes are crammed full of the kids old stuff. If we can make some money clearing out it will be a bonus but I'm not expecting to make a huge amount or to make it a regular thing but would like to declutter more often in future.
I did worry about selling new stuff but I think for the amount I have it shouldn't be a problem.
Sorry to quote myself but I feel the need to clarify before the night shift starts in earnest, the dress up outfits are of the childrens not adult variety :cool::rotfl:0 -
Well it's a money saving site
Yes I have taken a well paid job which means im happy because I'm working....but 40% of my wages goes on tax.
40% that's a killerBUT it is
But I'm still in a better place than I was a few months ago.
I Soooooo want to tell people here that money doesn't make you happy! I'd give all mine up to have my family back together again. I have money but I don't have happiness0 -
ooops offers please to help me off my high horse and get me to bed0
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fairclaire wrote: »ooops offers please to help me off my high horse and get me to bed
You can come up with me FCSee you in noddyland - 5 mins.
0 -
I'm going to take the plunge tomorrow. I love my husband but we are over. What he does to my kids is unforgiveable.
I won't stop looking after him probably ever. BUT he can't stay with us any more. my kids are crushed. I can't put them through it again.
I do love him but he can't come home in his current state of mind. So that's that0 -
fairclaire wrote: »I'm going to take the plunge tomorrow. I love my husband but we are over. What he does to my kids is unforgiveable.
I won't stop looking after him probably ever. BUT he can't stay with us any more. my kids are crushed. I can't put them through it again.
I do love him but he can't come home in his current state of mind. So that's that
Big decision FC but I know it won't be one you make lightly. I do think that the wee small hours is the worst time to think and make life changing decisions. Get some kip if you can and think it over in daylight. Sending a big hug your way x0
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