18-11-2024 12:35 AM
I am trying to find out how much tax I would need to pay as a private seller of around 6,000 pound in a year.
I am a pensioner selling my own items. I don't want to get into any trouble with the government. Thanks.
18-11-2024 7:21 AM
There is no tax if you are genuinely only selling off old unwanted personal possessions.
18-11-2024 9:52 AM
18-11-2024 10:41 AM
eBay will pass on data to HMRC automatically if you're selling 30 or more items a year OR have total earnings over the equivalent of £1,740. eBay will automatically share this information with HMRC by 31 January 2025.
Only you know if you're a private seller or should be trading as a business. A private seller is one who is just selling off their own personal items such as clothes from their wardrobe, bits from their loft/garage etc. A Business seller is someone who buys or makes items to sell on.
HMRC may send you a nudge letter as you've sold a few brand new items, they may want to see receipts for those. If they do, they'll be able to guide you.