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Paying tax on eBay profits
iansmum
Posts: 69 Forumite
I have looked online to try and get the answer to this but haven’t had much luck. I use eBay a lot and as we are clearing out stuff for selling I don’t want to fall foul of any tax implications for what I get for my stuff. I have read I can have £1000 after costs in any given year without paying any tax or having to declare it. Is this correct? Also, I don’t actually pay tax anyway as I don’t work and only get carers allowance. How would that work? And finally, would this amount run from April to April, a complete tax year, so I could start again? I have looked at HMRC but there’s no real info there. Has anyone had to deal with this? Many thanks.
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I have looked online to try and get the answer to this but haven’t had much luck. I use eBay a lot and as we are clearing out stuff for selling I don’t want to fall foul of any tax implications for what I get for my stuff. I have read I can have £1000 after costs in any given year without paying any tax or having to declare it. Is this correct? Also, I don’t actually pay tax anyway as I don’t work and only get carers allowance. How would that work? And finally, would this amount run from April to April, a complete tax year, so I could start again? I have looked at HMRC but there’s no real info there. Has anyone had to deal with this? Many thanks.
If you are selling your own things then you are not liable for any tax. Any liability only kicks in if you buy or make things to re sell.I’m a Forum Ambassador and I support the Forum Team on the eBay, Auctions, Car Boot & Jumble Sales, Boost Your Income, Praise, Vents & Warnings, Overseas Holidays & Travel Planning , UK Holidays, Days Out & Entertainments boards. If you need any help on these boards, do let me know.. Please note that Ambassadors are not moderators. Any posts you spot in breach of the Forum Rules should be reported via the report button, or by emailing forumteam@moneysavingexpert.com.All views are my own and not the official line of MoneySavingExpert.0 -
Thank you soolin. That’s comforting to know. Nowhere I’d found any info had it mentioned that at all so I can carry on clearing out my cluttered house! :T:j0
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I rang HMRC at the end of 2018 to check this and it confirmed what you have already been advised.0
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Thank you Mark. ��0
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