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In F/T employment but also selling goods online. How can I keep below the 40% tax threshold?
Vinny1974
Posts: 1 Newbie
in Cutting tax
I'm currently working full-time for a company and earn £48k per year on a PAYE basis.
I have also been supplementing my income by selling goods online via Vinted and ebay.
I'm very close to the 40% tax threshold in my main job.
Does anyone know how I can keep the two incomes seperate so I only have to pay say 20%-25% tax on my income of goods that I have sold online please?
I have also been supplementing my income by selling goods online via Vinted and ebay.
I'm very close to the 40% tax threshold in my main job.
Does anyone know how I can keep the two incomes seperate so I only have to pay say 20%-25% tax on my income of goods that I have sold online please?
0
Comments
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So you are buying things to sell on ebay/Vinted rather than just selling your old stuff?
Easiest option... sell less
Most common option... pay more into your pension
Sledgehammer to crack a nut... set up a company to do the eBay work and leave all the money in the company but then obviously it's not your income/money.0 -
Another option could be, if you have the ability to pay into a pension from your full time job?0
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When you sell on eBay/Vinted are you actually trading or clearing out old stuff?0
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