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New tax rules for selling online
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Mum1985
Posts: 4 Newbie
I’m not sure if the new tax rules for selling online (vinted) apply to me, I know your allowed a certain amount of nontaxable income and I don’t currently have a job so have no income. I sell quite a lot on vinted, clearing out unwanted items, kids stuff etc and also sell for family members. I know they say if you sell over 30 items or £1000 it will
be sent to Hmrc which I do (sell
over 30 items) but as I don’t have any income apart from child benefit and tax credits does this new tax rule effect me? Thank you
be sent to Hmrc which I do (sell
over 30 items) but as I don’t have any income apart from child benefit and tax credits does this new tax rule effect me? Thank you
0
Comments
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There are no new tax rules
HMRC has a new data source to try and identify those breaking the old rules.
What happens to the funds for the items you are selling for your family?3 -
You will still have your limit of £12k+ (whatever the amount is) so if you have no income at all then it won't affect you other than potentially having to report that it doesn't affect you.I’m a Forum Ambassador and I support the Forum Team on Debt Free Wannabe, Old Style Money Saving and Pensions 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.
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⭐️🏅😇1 -
As I understand it Ebay now have to report details of sellers who sell more then 30 items or have more than £1000 in sales. to HMRC who can they contact you if they choose.
You wont pay tax in your case but according to the Martin Lewis information you will need to register as self employed and fill in a tax return. If you are selling for others it could get complicated. Make sure you keep a really accurate record of what you sell.
Martin Lewis simplifies new rules for people selling items on eBay, Etsy and Vinted after recent change - Daily Record
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If you're selling stuff you bought new, I don't think this will affect you.
When you sell for family members, do you give them the money or take a cut?
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I’ll refer this thread to the forum team for,p possible merging as it duplicates the others we have open.OP can I please recommend you have a read of this from MSE
https://www.moneysavingexpert.com/news/2024/01/online-platforms-etsy-vinted-airbnb-report-hmrc/
and suggest you post in this thread if you have any additional questions.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.3
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