Ecstatic Laughter In The Evenings

squigs

poppypopster wrote: »

Re selling at catboots

I doubt you would have to pay tax on Asda bought stuff because you have a receipt to show what you bought. Just like when you sell your own stuff.

You don't have to pay tax on second hand goods which is like the stuff you buy at Asda

From the HMRC website
Selling goods or services

You could be classed as a trader if you sell goods or services. If you’re trading, you’re self-employed.
You’re likely to be trading if you:

• sell regularly to make a profit
• make items to sell for profit
• sell online, at car boot sales or through classified adverts on a regular basis
• earn commission from selling goods for other people
• are paid for a service you provide

You’re probably not trading if you sell some unwanted items occasionally or you don’t plan to make a profit. You can’t use any losses you make as part of a hobby to reduce your tax bill.

Contact HMRC for advice if you’re not sure whether you’re trading.

David.

altojack wrote: »

I think by now everyone here knows my thoughts on the above and I was going to keep my mouth shut on the matter BUT it does seem to be getting worse now.

I only signed in to answer a question further up the page but have to say I agree with anon and fairclaire both very good advice.

To add to this it does seem that we have gone from the 'Elite' to the 'greedy' at the rate some people are going MrA could well rethink the apg and then we all will miss out as not everyone wants to grab ££££££ from the store.

Save your breath

underperky

Good morning hope every one is well

miss_corerupted

altojack wrote: »

oooops forgot my manners :eek:

Good morning Elite :hello:

Sunny start to the day here in Suffolk. Off to get ready as early start, need to be at hospital for 9am and guess what? I have to get to the other side of the town where the hospital is, all the work/school traffic :mad:

Happy shopping, nsd for me :cool::cool:

See you later x

No school traffic today. It's the Easter holidays.


I hate the clock change ugh

bubbs

Munqui wrote: »

Have you claimed in-store APGs using your same CC/HD credentials ?

£100 limit is per household

Not as far as I recall but as I have 2 legitimate addys could have mixed them by mistake:(

bubbs

Morning all:D

bubbs

altojack wrote: »

oooops forgot my manners :eek:

Good morning Elite :hello:

Sunny start to the day here in Suffolk. Off to get ready as early start, need to be at hospital for 9am and guess what? I have to get to the other side of the town where the hospital is, all the work/school traffic :mad:
Good


Happy shopping, nsd for me :cool::cool:

See you later x

Good luck aj

Anon

poppypopster wrote: »

Re selling at catboots

I doubt you would have to pay tax on A bought stuff because you have a receipt to show what you bought. Just like when you sell your own stuff.

You don't have to pay tax on second hand goods which is like the stuff you buy at A

I don't think that is technically correct, it will depend on whether you are just clearing out your own second hand stuff or you are trading as a business (or are seen as such) - when you operate a business, no matter where you buy your stock from to sell, you need receipts for your records/accounting system. Some businesses solely operate selling second hand goods - tax is paid on profit made, not whether something sold is new or second hand (if you are operating as a business) - though I understand you can sell anything you own without tax implications if it has been bought for personal use (if you were operating a business you would need to keep receipts to prove cost of goods to be able to calculate profit - you would also need to keep a full record of purchases for the business and keep records of other expenses such as fuel etc that would form normal costs of running a business to calculate your annual profit - sales minus cost of goods minus direct costs equals gross profit minus indirect costs equals net profit ... tax payable on net profit from the year overall, if you have made one, not each sale).

Note I am not judging anyone or commenting on whether anyone is or is not running a business/has tax implications from their car boot or other activities, just on how tax is calculated.

As an aside, some stores had signs in the past - M and T (and Adli and Lild) - where offers have been restricted to a certain number per customer (and some have had a statement in adverts about personal use only not for traders or similar). Whether they enforce it is another matter.

Anon

Enterprise_1701C

Good morning all, lovely and sunny here

Off out cabling today, what an exciting life I live :rotfl::rotfl::rotfl:

Enterprise_1701C

I see the tax debate has opened on here again.

We run our own business, and have seen people trying to hide profits, unsuccessfully.

It is always best to declare a second income, after all if you are selling things you got for free then you are only losing a little of it.

Best to keep receipts, keep records of sales, when and how much, and simply to declare it. Not sure what should happen about the APGs though, whether they should be declared?