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when's a profit not a profit
Since retirement I have a hobby doing jigsaws. I, along with some family and friends swap completed jigsaws. When we have all done them I sell them on Ebay. We source them from local car boot sales. we have a budget and refuse to pay more than £2.50 for one. Not all jigsaws are complete ( about 15% ) . With the money received on Ebay we purchase more jigsaws. With the amount I am selling on Ebay I am exceeding the £1000 threshold. Obviously it is hard to get receipts from car boot traders. With the cost of packaging and fuel etc we are running at a loss. I try to sell them by auction on Ebay and after p&p a lot make a loss. I am worried that the powers that be would consider me a trader. Selling via Ebay enables my friends and me to have a cheap hobby.
61stephenuk
Mentor11 months agoYou would have to discuss any tax issues with HMRC , eBay will report your sales as you have exceeded the 30 item sold limit
plpmr
Mentor11 months ago"With the cost of packaging and fuel etc we are running at a loss."
As a private seller profit/loss cannot come into it.