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Declarable income?
falcieri
Posts: 196 Forumite
in Cutting tax
Last year I helped my Dad sell his Dad's old vintage woodworking tools on a site called Etsy. We split the profits between us as I did all the listing, selling and admin work around it. I am self-employed and in the back of my mind I am thinking I should be declaring it as income on my tax return even though it's not related to my registered business. Is this the same as selling your bric a brac in Ebay or should I be declaring it? I made about £300 in my pocket.
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Comments
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There is no more reason to declare proceeds from selling a few items on an auction site as a self-employed person than if you were PAYE.Provided you don’t actually turn it into a business I wouldn’t consider declaring it at all.1
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[Deleted User] said:There is no more reason to declare proceeds from selling a few items on an auction site as a self-employed person than if you were PAYE.Provided you don’t actually turn it into a business I wouldn’t consider declaring it at all.
Thank you. I was wondering that as I remember the ebay discussions I've read in the past.
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