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Second Hand Trading
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Paulm99
Posts: 1 Newbie
Hi everyone,
I am currently employed, but exploring the possibility of taking on an extra self employment to boost my income. My additional income would come from trading in second hand goods. My question is, how do I declare how much I pay for items to re-sell? As the majority of this will come from private sellers, I will not be receiving official invoices. Do I need to attempt to obtain receipts for these, or is simply keeping my own record of the sales and monies paid sufficient for HMRC?
Thank you
Paul
I am currently employed, but exploring the possibility of taking on an extra self employment to boost my income. My additional income would come from trading in second hand goods. My question is, how do I declare how much I pay for items to re-sell? As the majority of this will come from private sellers, I will not be receiving official invoices. Do I need to attempt to obtain receipts for these, or is simply keeping my own record of the sales and monies paid sufficient for HMRC?
Thank you
Paul
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