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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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  • forgotmyname
    forgotmyname Posts: 32,928 Forumite
    Part of the Furniture 10,000 Posts Name Dropper
    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...

  • RFW
    RFW Posts: 10,393 Forumite
    Part of the Furniture 10,000 Posts Photogenic Name Dropper


    Selling at a loss just makes you a poor business unless its part of your marketing budget


    True. I think Amazon traded for something like their first 10 years plus without turning a profit. I don't think anyone would consider them not to be a business.

    The 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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