Income tax on Ebay Sales (again !)

victohorta

Excellent service from HMRC.  Instant phone response (8am).  Self Assessment cancelled.

GadgetGuru

victohorta said:

Excellent service from HMRC.  Instant phone response (8am).  Self Assessment cancelled.

I think I may be in the same boat. 
This year I am almost at £5000 in eBay sales, yet its all computer/IT related stuff that I have been clearing from home because I've been upgrading my SSD drives and camera equipment - which can be expensive. I have a couple of used external SSD drives that are valued around £1k each alone (although tough to sell these on, as they're quite specialised). This all adds up pretty quickly!

So may I ask what you did? You simply called HMRC and informed them you are a private seller selling unwanted/used items? Did they ask for any receipts etc?

soolin

GadgetGuru said:

victohorta said:

Excellent service from HMRC.  Instant phone response (8am).  Self Assessment cancelled.

I think I may be in the same boat. 
This year I am almost at £5000 in eBay sales, yet its all computer/IT related stuff that I have been clearing from home because I've been upgrading my SSD drives and camera equipment - which can be expensive. I have a couple of used external SSD drives that are valued around £1k each alone (although tough to sell these on, as they're quite specialised). This all adds up pretty quickly!

So may I ask what you did? You simply called HMRC and informed them you are a private seller selling unwanted/used items? Did they ask for any receipts etc?

have you also been told you need to complete a self assessment form then?

RFW

victohorta said:

Excellent service from HMRC.  Instant phone response (8am).  Self Assessment cancelled.

Glad to hear it. 

I think a lot of people get scared to call them but they tend to be really friendly and helpful. 

LITRG

Hi, just including a link to our flowchart, in case it is handy for anyone grappling with the rules: https://www.litrg.org.uk/sites/default/files/240109 OECD rules flowchart.pdf

If HMRC send a tax return and you don't need to do one, you can ask for it to be withdrawn. Conversely if they don't send a tax return and you do need to do one, you should let them know. 

GadgetGuru

soolin said:

GadgetGuru said:

victohorta said:

Excellent service from HMRC.  Instant phone response (8am).  Self Assessment cancelled.

I think I may be in the same boat. 
This year I am almost at £5000 in eBay sales, yet its all computer/IT related stuff that I have been clearing from home because I've been upgrading my SSD drives and camera equipment - which can be expensive. I have a couple of used external SSD drives that are valued around £1k each alone (although tough to sell these on, as they're quite specialised). This all adds up pretty quickly!

So may I ask what you did? You simply called HMRC and informed them you are a private seller selling unwanted/used items? Did they ask for any receipts etc?

have you also been told you need to complete a self assessment form then?

No fortunately nothing - I just thought I would most certainly get one because I had gone over the £1700 value in sales, irrespective of whether they are private or not......?
I was also asked to upload my NI number to eBay etc earlier in the year as well, which I complied with (had no choice).

soolin

GadgetGuru said:

soolin said:

GadgetGuru said:

victohorta said:

Excellent service from HMRC.  Instant phone response (8am).  Self Assessment cancelled.

I think I may be in the same boat. 
This year I am almost at £5000 in eBay sales, yet its all computer/IT related stuff that I have been clearing from home because I've been upgrading my SSD drives and camera equipment - which can be expensive. I have a couple of used external SSD drives that are valued around £1k each alone (although tough to sell these on, as they're quite specialised). This all adds up pretty quickly!

So may I ask what you did? You simply called HMRC and informed them you are a private seller selling unwanted/used items? Did they ask for any receipts etc?

have you also been told you need to complete a self assessment form then?

No fortunately nothing - I just thought I would most certainly get one because I had gone over the £1700 value in sales, irrespective of whether they are private or not......?
I was also asked to upload my NI number to eBay etc earlier in the year as well, which I complied with (had no choice).

So there's nothing to worry about!

OP had received a request to submit a self assessment, that's all. HMRC are not going to be expecting assessment forms or ask every private seller to prove it  from every single private seller over the reporting allowance. Go back to the very often discussed threads about this- and read the requirements and advice there. 

GadgetGuru

soolin said:

GadgetGuru said:

soolin said:

GadgetGuru said:

victohorta said:

Excellent service from HMRC.  Instant phone response (8am).  Self Assessment cancelled.

I think I may be in the same boat. 
This year I am almost at £5000 in eBay sales, yet its all computer/IT related stuff that I have been clearing from home because I've been upgrading my SSD drives and camera equipment - which can be expensive. I have a couple of used external SSD drives that are valued around £1k each alone (although tough to sell these on, as they're quite specialised). This all adds up pretty quickly!

So may I ask what you did? You simply called HMRC and informed them you are a private seller selling unwanted/used items? Did they ask for any receipts etc?

have you also been told you need to complete a self assessment form then?

No fortunately nothing - I just thought I would most certainly get one because I had gone over the £1700 value in sales, irrespective of whether they are private or not......?
I was also asked to upload my NI number to eBay etc earlier in the year as well, which I complied with (had no choice).

So there's nothing to worry about!

OP had received a request to submit a self assessment, that's all. HMRC are not going to be expecting assessment forms or ask every private seller to prove it  from every single private seller over the reporting allowance. Go back to the very often discussed threads about this- and read the requirements and advice there. 

Thank you - just me being OTT! lol