Ebay £1k tax rules

flapflop

Hello all I'm hoping someone may be able to help me. I've been selling stuff i have lying around the house and am about 80p away from £1000 in the last 50 days which is great but I've been reading that I may need to declare anything over £1k to the tax man but there is mixed messaging. Does anyone know, please? 

soolin

flapflop said:

Hello all I'm hoping someone may be able to help me. I've been selling stuff i have lying around the house and am about 80p away from £1000 in the last 50 days which is great but I've been reading that I may need to declare anything over £1k to the tax man but there is mixed messaging. Does anyone know, please? 

If the items are all your own unwanted items then you don’t need to make any declaration at all. Only those buying or making things to sell need to worry about HMRC. 

flapflop

Thank you @soolin

Savetowin

Does "unwanted items" include vintage clothes? Even if they are valuable?

soolin

Savetowin said:

Does "unwanted items" include vintage clothes? Even if they are valuable?

Yes if they are your own , the criteria all hinges on whether the items were yours to start with, or have been bought  with any intention to sell on. 

Having said that second hand clothes do often catch the eye of HMRC or DWP as they are a common thing for re sellers to sell, I always suggest if you have lots of similar items to sell and think you might attract attention to just keep photos of packed wardrobes or book shelves (whatever) to show them in your home and to strengthen the argument they are yours.