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What is the tax status of selling things on eBay?
mattster89
Posts: 3 Newbie
in Cutting tax
I have a few collectors items that I brought many years ago. Im now looking to sell off my collection to make more space in the house. I reckon I could get over £20k for these items on eBay. However before I sell anything I wanted to check what the tax status of these ebay sales would be? I am self employed and earn just over 150k per year. Am i completely free to sell my stuff as I want, or would i have to declare any sales as an additional source of income and potentially pay any income tax, NI etc on it?
Thanks for your advice!
0
Comments
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If you sell chattels that were not bought with a view to being sold at a profit, their disposal is treated as a capital gains tax matter:
https://www.gov.uk/government/publications/chattels-and-capital-gains-tax-hs293-self-assessment-helpsheet/chattels-and-capital-gains-tax-2021-hs293
I suggest that you do not create a business account on Ebay to sell them, as HMRC assume such accounts are trading.0
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