I agree with the comment about private sellers being actually asked due to their turnover at ebay to follow the guidelines and rules set by HMRC, as it is oftne business sellers sales can be damaged by so called private sellers who walk away from the obligations on distant selling too.
I am a sole trader, have two different business running while when setting up another family member recently the criteria to declare self employed was based on turnover not more than £1,000 bear in mind if on PAYE too you may have used up all your personal allowance, then there is £242 per week with regard to National Insurance too.
Some business traders sell on many platforms so its not just ebay, the seller may well have a much bigger overall turnover, (less costs etc) regardless of income. So too the level for VAT, its the turnover figure not taxable income or gross profit.
Final thought, ignorance is no defence, HMRC have it all thier side and if no proof of trading expenses you can get hit with fines and back tax up to SIX years.
Quote:
1) trading allowance is available to those with trading or miscellaneous income. The allowance is sometimes also known as the trading and miscellaneous income allowance, or hobby allowance.
2) over £242 a week in the 2023/24 tax year, you’ll have to pay Class 1 National Insurance contributions.
3) start paying income tax once your profit goes above your personal tax allowance, which is £12,570 in 2023.
Gordon T/A Dinnages Publishing since 1989 as a Dealer in Transport collectables.
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