Clarity Needed for 30 eBay items or £1k of Sales for HMRC

AbleMable

Hi
I have read a lot around this topic but one thing that is not clear is the following:
Do selling platforms (ie ebay, vinted, depop etc) report the seller to HMRC once the 30 items or when £1k has been met? - I guess whichever comes first.   So I could sell 30 items @ £1 for ebay, 30 items on Depop and 30 items on Vinted and my profile will be sent to the HMRC for monitoring from EACH of the platforms despite not meeting the £1k max?

Thanks

400ixl

What difference does it make? It doesn't change when and if you have to declare to HMRC.

People are reading too much into this. As long as you declare appropriately then you will not have an issue.

soolin

400ixl said:

What difference does it make? It doesn't change when and if you have to declare to HMRC.

People are reading too much into this. As long as you declare appropriately then you will not have an issue.

I agree, there’s lots of un necessary worry about this. 

OP for clarity no platform knows what the others are doing, so they will all report separately if the threshold is reached. Nothing has changed though, if you weren’t a business seller and still aren’t then there’s nothing at all to be concerned about.

AbleMable

..Also, my sales is a massive mix of old and newish/worn stuff as am getting rid of 50 years of stuff in my dads house! Will HMRC see this as me being a trader- I don't want to be landed with a tax bill for my efforts- else the stuff will end up in landfill.

DullGreyGuy

AbleMable said:

Hi
I have read a lot around this topic but one thing that is not clear is the following:
Do selling platforms (ie ebay, vinted, depop etc) report the seller to HMRC once the 30 items or when £1k has been met? - I guess whichever comes first.   So I could sell 30 items @ £1 for ebay, 30 items on Depop and 30 items on Vinted and my profile will be sent to the HMRC for monitoring from EACH of the platforms despite not meeting the £1k max?

Thanks

It's an annual report which you will be on if you meet either condition 

The new thing is only a report to HMRC... no tax laws relating to you have changed, HMRC just has a new data source to help spot you if you've not been following the rules. 

Spoonie_Turtle

AbleMable said:

..Also, my sales is a massive mix of old and newish/worn stuff as am getting rid of 50 years of stuff in my dads house! Will HMRC see this as me being a trader- I don't want to be landed with a tax bill for my efforts- else the stuff will end up in landfill.

That doesn't sound like trading, to me.

RFW

AbleMable said:

Hi
I have read a lot around this topic but one thing that is not clear is the following:
Do selling platforms (ie ebay, vinted, depop etc) report the seller to HMRC once the 30 items or when £1k has been met? - I guess whichever comes first.   So I could sell 30 items @ £1 for ebay, 30 items on Depop and 30 items on Vinted and my profile will be sent to the HMRC for monitoring from EACH of the platforms despite not meeting the £1k max?

Thanks

There are two different things here.

The £1000 threshold is if you are a trader.
The recent changes is 30 items and/or 2000Euros (around £1700). The two things aren't related. HMRC have said nothing has changed, they're just receiving the information so they don't have to ask for it.

If you're selling personal items the only possible tax you have to worry about is capital gains and that only kicks in on high volumes.