Personal items/collection

[Tgz]

Good day forum,
I am looking for some advice, I have been buying vinyl records for 45 years for my own personal use. I have accumulated a collection of 22,000 records. I am looking into selling them individually as I retire and I'm older now and will never play them. Selling as a job lots wouldn't be viable as they wouldn't be to everyone's taste as a whole collection.

If I do sell them what is the situation with tax? I purchased them for a priced + vat and most will probably sell for less than I paid. As this is my personal collection and have not been purchased with the intention of selling for a profit where do I stand. I obviously do not have receipts for all of them.

As HMRC are now informed of online sales such as eBay etc I'm concerned I'll get a big tax bill. How do I approach HMRC to explain the situation or would I get a tax bill regardless?

In my view I shouldn't have to pay tax because I've already paid the vat and I'll make a loss on the total amount anyway to what I've paid over the years.

I looked at this but as with anything HMRC it isn't clear and doesn't mention personal collections.

BIM20255 - Meaning of trade: badges of trade: assets acquired for personal enjoyment

Any help would be greatly appreciated.

Thanks
TG

[pawncob]

You're NOT trading. Disposal of personal items such as records, does not require any interaction with HMRC.
If they pick up on your sales, just tell them the truth.

[Tgz]

Thank you for the reply