Advice Needed

[N6CNH]

Hi All,

Im 21 and I inadvertently started selling some stuff on a third party website, I didn't know or understand the tax involved in buying something and selling it on. This has been going on for a little over twelve months, and I want things to grow. I've not kept any receipts - like an absolute idiot.

So I don't know what to do?

What's the next step, how do I get my affairs in order and what fines am I likely to face?

Thanks.

[nikkisizer]

Hi N6CNH,

You will need to register for self assessment with HMRC and file an annual tax return for each tax year that you are trading.

Happy to help if required so if you need any further assistance please do not hesitate to contact me.

[section 44]

I inadvertently started selling some stuff on a third party website

Could you expand on how you inadvertently sold stuff?

If your stuff was taken from you without your knowledge then sounds more like theft than a sale and you shouldn't be liable to tax