Hmrc

[jpro7392]

Buying and selling as hobby not as self employed how to clear up as not wanting to be self employed Spent double buying than sold

[papso22]

Sorry I don't understand, clear up what?

[jckl1957]

If you have concerns about your tax liability, you should contact HMRC.

If you have monetised your hobby and you are buying purposefully in order to sell on, then you may well be required to complete a self-assessment.

[jpro7392]

I enjoy repairing laptops I purchase broken damaged ones for say maybe £75 and sell for maybe £100 sometimes buy for £175 sell for £225 I have spent around £4000 and sold roughly£1800 and have stopped selling now as it’s not enjoyable now as I’m hardly a business and don’t want to do it any longer and not sure how to go about stopping it and clearing up an liabilities with hmrc I stopped immediately 3 months or so ago
Sent from my iPhone

[jpro7392]

I just enjoyed repairing old tech buying and selling and made very little profit in fact at a loss if I break even I was happy but it looks as if everything I sell is profit but it’s not
Sent from my iPhone

[jckl1957 · Accepted solution]

Get your paperwork/figures (doesn't have to be exact) together and contact HMRC.

It may take a while to get through but they will give you accurate advice and tell you what your next steps (if any) should be.