Private on-line selling

Ecossesails

I understand this has probably been discussed many times before, however I would appreciate if this point could be clarified.
If I sell my unwanted goods via a popular auction site, as a private seller, should I expect to pay a vat bill for the total amount sold?
I also have a collection of gold sovereign's which I intend to sell at some point, where is the best place to sell such gold, as selling on auction site, will incur approx 15% fee's by the time I've received the money. These are exempt from VAT atleast and I 'm certain I could sell without attracting the attention of the tax man.
Any advice would be appreciated, Michael.

soolin

Ecossesails wrote: »

I understand this has probably been discussed many times before, however I would appreciate if this point could be clarified.
If I sell my unwanted goods via a popular auction site, as a private seller, should I expect to pay a vat bill for the total amount sold?
I also have a collection of gold sovereign's which I intend to sell at some point, where is the best place to sell such gold, as selling on auction site, will incur approx 15% fee's by the time I've received the money. These are exempt from VAT atleast and I 'm certain I could sell without attracting the attention of the tax man.
Any advice would be appreciated, Michael.

A private seller selling off their own unwanted items attracts no income tax or VAT.

Personally I would be hesitant in selling gold coinage online unless you are experienced and familiar with online selling, try a bricks and mortar auction house instead. The fees are likely to be much higher but the risk is less for the seller.

Ecossesails

Noted. Cheers Michael