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If HMRC send a tax return and you don't need to do one, you can ask for it to be withdrawn.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.