hmrc reporting

[trasc-1841]

apologies if this has all been asked before....i have sold 29 items and ebay have asked for my national insurance number for the hmrc digital reporting thing. i am just wondering what hmrc actually do as reading the information does not give me specifics that i am trying to find out. will hmrc ask me to file a self assessment for the items i am selling? how does a self assessment work? will i be asked to list each individual item on a self assessment if i need to do one i have no idea what to do. all i have sold is some old laptops / parts etc that has been laying around for a long time as well as a few other odd items. the main reason for asking is that i am trying to sell my sons and partners gaming items that they no longer use. they have lots of skylanders and other games and consoles that are not played anymore. we have multiple nintendo / xbox and playstation consoles (switch wii wii u ps4 ps5 xbox one and x etc etc) in the household so it amounts to a lot of items! i had some skylander bits listed and have sold some but have ended them at the moment as it seems like it will be a lot of hassle to sell the unwanted items if hmrc are going to ask me to file a self assessment for selling these things. i am clearly going to go over the threshhold but its not profit, most if not all of the money is spent on ebay again anyway!

[tobiasd4]

We are not qualified to give tax advice. 

You need to speak to HMRC. 

[papso22]

There are many threads on the main selling boards about HMRC reporting and tax obligations. 

[jckl1957]

HMRC will be inundated with information and nobody really knows what they will do with it.

Good advice to check with HMRC - this is a useful starting point to see if you will have a tax liability.

https://www.gov.uk/guidance/check-if-you-need-to-tell-hmrc-about-your-income-from-online-platforms

Two things you should know before you decide whether to add your NI number to you Ebay account.

If you don't add it, Ebay may hold funds for items you have sold and you will not be able to sell anything else.

If you have met the 30 items/£1740 threshold, Ebay will pass details of your sales to HMRC even if you don't provide your NINO.

[61stephenuk]

It appears you are selling your own and immediate family items,no tax is likely to be due for selling your own goods unless you reach capital gains tax level (£3000 item)

Full information would be available on HMRC site