New Posts For Thread: any1 on here sell a lot of stuff on ebay?https://community.betfair.com/chit_chat/go/thread/view/94038/23444554/any1-on-here-sell-a-lot-of-stuff-on-ebayhow do you stand regards tax?not gonna lie to em , have all relevant paperwork to produce to them to prove the profit etc its just i didnt declare it on the last tax year . cos i do self assesment ( self employed courier driver)https://community.betfair.com/chit_chat/go/thread/view/94038/23444554/any1-on-here-sell-a-lot-of-stuff-on-ebay?post_id=418605026#418605026not gonna lie to em , have all relevant paperwork to produce to them to prove the profit etc its just i didnt declare it on the last tax year . cos i do self assesment ( self employed courier driver)Tue, 12 Jan 2010 12:21:36 -0600HMRC get details of anybody with over a certain amount of transactions through their account. Don't know the number, but it is a lot higher than it would be for somebody just selling their own stuff.They will know a lot more about your transactions thttps://community.betfair.com/chit_chat/go/thread/view/94038/23444554/any1-on-here-sell-a-lot-of-stuff-on-ebay?post_id=418605006#418605006HMRC get details of anybody with over a certain amount of transactions through their account. Don't know the number, but it is a lot higher than it would be for somebody just selling their own stuff.They will know a lot more about your transactions tTue, 12 Jan 2010 12:16:46 -0600doesnt matter if its sole income or not, ebay would certainly regard you as a business seller under those circumstances, not sure of the legal implications of that regarding hmrc but i would suggest you will be liable for income tax charges on your phttps://community.betfair.com/chit_chat/go/thread/view/94038/23444554/any1-on-here-sell-a-lot-of-stuff-on-ebay?post_id=418604974#418604974doesnt matter if its sole income or not, ebay would certainly regard you as a business seller under those circumstances, not sure of the legal implications of that regarding hmrc but i would suggest you will be liable for income tax charges on your pTue, 12 Jan 2010 12:07:06 -0600trouble is they wernt personal belongings. bought some cake stands from a mate who runs a plastics factory , did some cash and some with invoices just as a sideline but as the profit came out so small after actually selling at a total of 10k worth ,https://community.betfair.com/chit_chat/go/thread/view/94038/23444554/any1-on-here-sell-a-lot-of-stuff-on-ebay?post_id=418604938#418604938trouble is they wernt personal belongings. bought some cake stands from a mate who runs a plastics factory , did some cash and some with invoices just as a sideline but as the profit came out so small after actually selling at a total of 10k worth ,Tue, 12 Jan 2010 11:36:12 -0600No, not taxable. Loads of people sell personal belongings to that value. Cars, jewellery, furniture. Dont worry about it.https://community.betfair.com/chit_chat/go/thread/view/94038/23444554/any1-on-here-sell-a-lot-of-stuff-on-ebay?post_id=418604934#418604934No, not taxable. Loads of people sell personal belongings to that value. Cars, jewellery, furniture. Dont worry about it.Tue, 12 Jan 2010 11:28:49 -0600lol dont think id be worried about tax if it was cocaine.https://community.betfair.com/chit_chat/go/thread/view/94038/23444554/any1-on-here-sell-a-lot-of-stuff-on-ebay?post_id=418604930#418604930lol dont think id be worried about tax if it was cocaine.Tue, 12 Jan 2010 11:20:12 -0600It was cocaine wasn't it?https://community.betfair.com/chit_chat/go/thread/view/94038/23444554/any1-on-here-sell-a-lot-of-stuff-on-ebay?post_id=418604890#418604890It was cocaine wasn't it?Tue, 12 Jan 2010 07:28:40 -0600not sole source but did sell a lot of stuff in the last tax year but the net profit came out at £2,400https://community.betfair.com/chit_chat/go/thread/view/94038/23444554/any1-on-here-sell-a-lot-of-stuff-on-ebay?post_id=418604886#418604886not sole source but did sell a lot of stuff in the last tax year but the net profit came out at £2,400Tue, 12 Jan 2010 06:53:01 -0600Depends if its a sole source of income. If so, you are eligible to pay tax. If you are just selling lots of personal belongings, you have no worries.https://community.betfair.com/chit_chat/go/thread/view/94038/23444554/any1-on-here-sell-a-lot-of-stuff-on-ebay?post_id=418604798#418604798Depends if its a sole source of income. If so, you are eligible to pay tax. If you are just selling lots of personal belongings, you have no worries.Mon, 11 Jan 2010 17:21:59 -0600how do you stand regards tax?https://community.betfair.com/chit_chat/go/thread/view/94038/23444554/any1-on-here-sell-a-lot-of-stuff-on-ebay?post_id=418604794#418604794how do you stand regards tax?Mon, 11 Jan 2010 17:18:42 -0600