HMRC tax on £1000 sales

[Anonymous]

Does the £1000 p.a. sales figure include postage? I sell low value items & the postage is usually higher than the value of the item.  On £1000 sales i'd be lucky to make £200 profit.  Seems the end of Ebay for sellers like me.

[simon.willcock.antiques]

I agree with everything said and also support the use of Ai 👍🏻

[notonlymars]

Are you using fake id or address like me do?

[cattuner]

I did £25000,only £1500 profit ,buy from auction,a lot of work i'm over seventy, now taxman wants his cut 

not worth doing 

[cobwebcottage]

'I did £25000,only £1500 profit ,buy from auction,a lot of work i'm over seventy, now taxman wants his cut 

not worth doing '

You buy to sell then you should pay your taxes. Just because you are over 70 and you say have only made a profit of £1500 has nothing to do with it. You have a gross of £25K sales and do not pay any fees to list your items on Ebay. Do you think that's fair on the businesses who sell similar items to you and pay fees as well?

You want to play the game but make up your own rules.

[storme30]

AI is comedy gold on ebay..especially selling 2nd hand..where precise details are req'd..sellers just press AI and walk away ..then moan when refund/returns mount up 

[jow1995]

Hopefully the NIN and HMRC reporting will help sort out these problem sellers.

[edd_chickenham]

When does the £1700 that eBay has to report for sales to HMRC get reset. Is it after 12 months from your first sale or is it in each tax year and resets in April?

[brookheather]

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@edd_chickenham wrote:

When does the £1700 that eBay has to report for sales to HMRC get reset. Is it after 12 months from your first sale or is it in each tax year and resets in April?

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Neither - it is per calendar year from January to December as this is the agreement between the various countries that signed up to this reporting.

[edd_chickenham]

Many thanks, I was curious about that rule.

[storme30]

Its a load of old pants having left EU we sign up to EU annual tax law Jan-Dec when we run from Apr-Apr making it clumsy and the 2000 euro conversion again is vague when converted to £.

Should be if it has to exist at all 50 sales or £3000 base-line ..all thats gonna happen now is the system will either get bogged down in paperwork or HMRC will ignore accounts under say £3000 unless it wants to waste tax payers money chasing diddly..

[brookheather]

It's OECD tax reporting rules not EU.