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Where Taxpayers and Advisers Meet

Reselling item on ebay for 2-3 items

frusciante
Posts:2
Joined:Fri Jan 22, 2021 8:13 pm
Reselling item on ebay for 2-3 items

Postby frusciante » Mon Aug 02, 2021 4:51 pm

Hi,

I am recently reselling 2-3 new items on ebay.
I have a full time job and I don't plan to resell anymore.

Do I need to declare this to HMRC for tax?

Thanks

bibescu
Posts:25
Joined:Tue Sep 21, 2010 9:33 am

Re: Reselling item on ebay for 2-3 items

Postby bibescu » Tue Aug 03, 2021 1:30 am

Hello,


The activity is casual activity and you should declare the income over £1,000 per tax year.
So, if your income is under £1,000 per tax year, you do need to register for self-assessment.

Jholm
Posts:360
Joined:Mon Mar 11, 2019 4:22 pm

Re: Reselling item on ebay for 2-3 items

Postby Jholm » Thu Aug 05, 2021 10:39 am

There does not seem enough activity to warrant this being a trade in my (conflicting) opinion.

Are they items you just owned and are happening to sell, or did you buy them with the sole intention of selling them?

What are the items? They may well be exempt assets for CGT.


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