This site uses cookies. By continuing to browse the site you are agreeing to our use of cookies. To find out more about cookies on this website and how to delete cookies, see our Cookie Policy.
Analytics

Tools which collect anonymous data to enable us to see how visitors use our site and how it performs. We use this to improve our products, services and user experience.

Essential

Tools that enable essential services and functionality, including identity verification, service continuity and site security.

Where Taxpayers and Advisers Meet

Selling Books

CG
Posts:202
Joined:Wed Aug 06, 2008 3:33 pm
Selling Books

Postby CG » Tue Nov 13, 2018 12:28 pm

A self employed writer, who has received lots of books for free from various publishing companies over the years, sells these books to online book buying specialists and raised £1,600 in her last accounting period from these sales

Should the income generated be treated as taxable income in her self employed business?

pawncob
Posts:5099
Joined:Wed Aug 06, 2008 4:06 pm
Location:West Sussex

Re: Selling Books

Postby pawncob » Wed Nov 14, 2018 4:08 pm

Why did she receive the books? Was it because she's an author? If so, it's probably taxable.
With a pinch of salt take what I say, but don't exceed your RDA

CG
Posts:202
Joined:Wed Aug 06, 2008 3:33 pm

Re: Selling Books

Postby CG » Wed Nov 14, 2018 4:41 pm

Yes she writes reviews of books as well as her writing own books.

She's basically on the mailing lists of lots of publishers so gets sent books all the time.


Return to “Income Tax”