eBay/Online Platform Selling Separating Personal VS Trade Receipts HMRC

Dave1UK

So currently I have occasionally only been selling my personal hobby possessions on eBay and keeping under the yearly limit as honestly don't want the hassle to be dealing with eBay/HMRC and having to explain or justify my personal possessions being sold.

I have been contemplating on beginning to sell on eBay for profit, how do/would I be able to separate items that I have sold as my personal possessions and those I have sold with the intent to profit from? Let's say I sold 40 items, 10 being for profit and 30 being my personal possessions? Given I would only use 1 eBay account or should I make 2 separate ones (if eBay allows this)?

Also to add into the mix in regards to invoices/receipts for items sold for profit, how does one provide or show this for items that they would buy from a car boot sales, Facebook marketplace and the like i.e. in cash?

Looking for answers to these from a sort of HMRC perspective as I have read they may want receipts for the bought price etc.

Thanks.

sheramber

https://forums.moneysavingexpert.com/discussion/6664126/ebay-online-platform-selling-separating-personal-vs-trade-receipts-hmrc

This nothing to do with benefits or tax credits.

Needs moved to the e› Ebay, auctions, car boot sales, post & parcels. Forum.

You can request a move by pressing the report button at the bottom of your post

Dave1UK

https://forums.moneysavingexpert.com/discussion/comment/81962664#Comment_81962664

Thanks!

soolin

I run both business and private accounts as I don't want to pay business fees on my private sales. I keep simple accounts (I'm old fashioned and use handwritten books exactly as I did when I worked) I just enter details of what I buy, put any receipts in a folder and mark my accounts if I haven't got a receipt- so I don't waste time searching for a receipt)

I keep a separate set of figures for all expenses and as I have a very low turnover I just submit simple accounts on a cash basis.

Dave1UK

https://forums.moneysavingexpert.com/discussion/comment/81962759#Comment_81962759

So two separate eBay selling accounts, makes sense.

In regards to the "if I haven't got a receipt" in situations like that such as buying an item from Facebook or car boot sales, HMRC would just take your word for it? I mean with Facebook technically you could screenshot the listing and also any chat logs for the agreed price but car boot sales definitely no evidence there.

soolin

https://forums.moneysavingexpert.com/discussion/comment/81964804#Comment_81964804

I’ve been selling for round 30 years now and have never been questioned by HMRC, however I record everything as best I can as there is no other way of doing it.

Archergirl

I have 2 different eBay accounts, you will soon build up feedback.