UK digital sales reporting

[scubie-sceadu]

So now you have a limit how much you can make on sales in the UK on private sale before you have to pay tax, this limit is £1740.00.

My question is, is it you only pay tax once you go over £1740 so say you do £2000 in a year you will only pay tax on £260 ????  also what is the amount of tax you will pay %%  ?????

I think this is so unfair as the items I am selling are items I bought, are mine and tax already paid on the items, I am not selling to make money, just getting some money back on the item I am selling which are mine, which I paid for.

So wrong

[papso22]

If you are only selling your own unwanted personal possessions there is no tax due.

£1,740 is a reporting threshold not a tax threshold. 

[jckl1957]

You have been misinformed.

If you are selling your own personal possessions, and not buying or making to sell, you are unlikely to have to pay tax.

Ebay have to report your sales to HMRC when you reach that 1740 limit (or sell more than 30 items) in a year.

So, you could sell 30 items at £3 each and your sales would still be reported.

If HMRC believe you are trading, they may contact you and ask you about your sales.

You will only be liable to pay tax if you are trading.  It won't matter if your sales are over £1740.

For accurate information, read this from gov.uk.

https://www.gov.uk/government/news/information-for-online-sellers

[scubie-sceadu]

Yes its only my personal items, i am into model flying and due to a move i have no where to keep them so need to sell them unfortunately.

How do they classify what is your own unwanted personal possessions  ????

[jckl1957]

Google 'HMRC badges of trade' - these are the indicators they would use to help them decide if you were trading or simply selling unwanted items.

Generally HMRC or gov.uk websites are helpful and accurate.