Firstly I would like to thank all those who have responded to an earlier post about what I'm about to ask.
Its about this 30 items and £1000 sales before being reported to HMRC.
Now many have said as I'm a private seller I can sell any amount of items and collect any monies as I'm not a trader.
This wet and awful day I decided to see what the internet says and believe me its a mine field. Some say "its what the item sold for XECLUDING any fees" ,some say it INCLUDES the fees.
Then you have "if its yours you need not worry as you are not buying to sell" but thats only if you dont make a profit! Hang on , I bought a kit for £5.00 back in the day many years ago. Sold it and it was bid up quite a lot as its now rare. Not my fault folks wanted it. This kit was mine ,but sold for a bigger price, so it made a profit, unless you can work out how much it would cost for inflation youve made a profit.
Then why £1000 , its acually 2000 Euros which is £1750 or so not the famed £1000.
I have been collecting model kits for years , but due to ill health and other personal problems I have decided to sell them all off. At 30 kits I'll be long gone before they are gone. So once again
What the hell is the rules? Everyone I've asked has given different ideas of what they are. I'm 70 so I dont want to mess about with tax at my age. Looked at what e bay has put out and it doesnt fit, looked at what Martin Lewis says and there are more "ifs and buts" there than enough. PLease can someone say with any clarity whats what or do I just chuck it all ? E bay was my one way out of an old age , but not any more. Thanks
