Why do ebay want my national insurance no.

[paul2012-2013]

hi why do ebay want my NI number i dont like giving out this info

[moldosgifts]

No the other is not a trading allowance it is a reporting allowance on income that is not trading

So example other stock and shares that are taxed at a lower rate but reported if over £2500

The trading allowance that YOU mentioned is £1000 then you stated it was £3000 that is misinformation.

So otherer gross income is wages that have not been taxed yet or a walking the neighbours dog you get paid for or tips.

At that point you need to contact HMRC who will advise.

So again  Hes a former tax advisor for HMRC, so will stick with him his info is not up to date

[deanem72]

Apologies then for the figures other than £1000, this was information provided to me as mentioned, I have now checking and this is indeed to be brought into general use in this parliament but is not yet valid.  

The £1000 stated is definately for any trading activities combined and over that needs to be reported to HMRC

[emw-designs]

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@deanem72 wrote:

It is a £2500 'trading allowance' 

If ebay sales are not trading then what are they?

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Not all ebay sales are classed as trading. If you have a private ebay account it shouldn't be used for trading - you should have a business account for that.

If you're selling personal possessions this isn't classed as trading (except for some specific large value items).

You can check here if you need to tell HMRC.

Check if you need to tell HMRC about your income from online platforms - GOV.UK

[paul2012-2013]

I am not a business seller how much can i make before tax

[paul2012-2013]

last year i think i earn over 2000 so will i not get taxed on that, and what if it was 3500 would it just be taxed on the £500? thanks

[paul2012-2013]

so if over £1740 do i just get taxed on what is over 1740? and how do i pay

[sml192]

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@paul2012-2013 wrote:

I am not a business seller how much can i make before tax

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If you are only selling unwanted personal possessions then you will not need to pay any tax, unless you sell a single item/set for £6,000 or more which may be subject to Capital Gains Tax. 

[sml192]

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@paul2012-2013 wrote:

so if over £1740 do i just get taxed on what is over 1740? and how do i pay

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Ebay is required to report your sales once you reach 30 items or approximately £1,740 (2,000 euros) in a year but that doesn't necessarily mean that you would need to pay any tax. 

[paul2012-2013]

i am personal seller but went over 1000 as selling kids stone island which took the amount up

[paul2012-2013]

thanks so why did they ask for my NI Number

[jonat_broad]

If you are only selling your own preowned goods - then you wouldn't owe any tax.

Though note you'd need to be careful with some of your listings. Like the washing machine which you state is brand new. It isn't, because you've had it three weeks so it should at least be New (other). Also, that listing states collection only but only postage is available on the listing.

[paul2012-2013]

thank you for all your help

[sml192]

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@paul2012-2013 wrote:

thanks so why did they ask for my NI Number

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As stated eBay is required to report your sales to HMRC once you reach the thresholds set by the OECD.  In order to do that they need to obtain and verify the seller's Tax Identification Number (NI number in the case of an individual). 

[sml192]

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@moldosgifts wrote:

And no where in the link they supplied has any mention of £3000.

That comes from a Possible raise of the allowance that could be in place before 2029.

But is NOT in place NOW

The accountant need retraining. He's a fortune teller

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Note, it is the Trading Income Self Assessment reporting threshold that they are proposing to increase to £3,000, not the Trading Allowance. 

[papso22]

I really can't understand why people are getting it so wrong.

If/when the £3,000 comes in it is only a change to how you report any tax due, not a change to how much tax might be due.  As you rightly say, it's a reporting change not a tax change.

[moldosgifts]

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@sml192 wrote:

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@moldosgifts wrote:

And no where in the link they supplied has any mention of £3000.

That comes from a Possible raise of the allowance that could be in place before 2029.

But is NOT in place NOW

The accountant need retraining. He's a fortune teller

---

Note, it is the Trading Income Self Assessment reporting threshold that they are proposing to increase to £3,000, not the Trading Allowance. 

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Yes i know this the person who first mentioned this needs to know it and stop listening to their accountant friend who used to work for HMRC who possibly has some memory issues, so not an accountant and possibly sacked or retired.