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I sell only my own assets at a loss, but more than 30 per year. Do I need to tell HMRC?
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Many posts mention about selling for more/less than they paid, that makes no difference as to whether your a business or not.
Selling at a loss just makes you a poor business unless its part of your marketing budget to sell at a loss to get a foothold/customer
base that you would struggle to get in at full price.
Asked a mate how much each item cost that they had listed on ebay, his answer surprised me....
"I just looked at the selling price of all the other sellers/product and used the same pricing"
I thought what if they were getting parts for 50% of the price that you pay?Censorship Reigns Supreme in Troll City...0 -
forgotmyname said:
Selling at a loss just makes you a poor business unless its part of your marketing budgetThe immense amount of misinformation surrounding the change in reporting to HMRC has been astounding.If you're unsure of whether you're a trader or need to report anything to HMRC, just check with HMRC, either on their website or call them.
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