Will I get a bill from the HMRC tax man?

[mrood786]

So im wanting to sell my VFX workstation and my storage set up, this is to raise funds to buy a newer up to date technology will with cost me 10k 

Im not a business btw, im just a enthusiast gamer and have a hobby on the latest technology.

So I have calculated that if I break up my set up to individual components then I'll make a bit more money

Splitting everything up to separate components

So it will probably sell to about 5k

I sold my 70 inch TV and my VR set up back in March so this was something like 2500 quid so im already 2.5 up

so If I sell all my stuff and it totals 7500 quid via individual sales over a 3 months or so will i get a bill from the tax man?

plus i need to sell my high end headphone collection which is like 3k 

They have taken my NI number, so that might be 10k by the end of 2025

I mean I already paid Tax and VAT on the stuff I bought so why do I need to pay more tax when selling the same stuff? doesn't make sense to me other than the government being greedy

Am I going to get a nasty surprise from the tax man at the end of the year?

I dont want to use facebook market place and gumtree coz they are filled with scammers

[susapric-68]

No in short. You can sell your personnel items. eBay will report anything over 30 sales or £1700 . If you are buying things to break down/ sale on and make a profit then that is a different matter

[the-nutwood-collection]

To counter the unlikely event of an HMRC enquiry, make sure you keep the receipts to prove that it was a personal purchase some time ago and has been replaced by something even better.

[wintersdawn1]

@mrood786 

Example — selling unwanted items

You’re clearing out your attic and decide to sell your unwanted items using online marketplaces. None of the items you sell are worth more than £6,000.

It’s unlikely that you’ll need to tell us about this income or pay any tax, no matter how many items you sell.

If you sell an item for more than £6,000, you may need to pay Capital Gains Tax. The £6,000 value for a single personal possession for Capital Gains Tax, also applies to the total value of items which form a set, for example:

• chess pieces
• books by the same author or on the same subject
• matching ornaments, such as vases or statuettes

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

• If you are selling unwanted personal possessions such as old toys or clothes, this would not be classed as trading or miscellaneous income, and there is usually no tax to pay. In some circumstances there may be capital gains tax when selling valuable items such as jewellery, this is covered in our flowchart.

https://www.litrg.org.uk/news/selling-online-make-sure-you-keep-clear-records

Do I have to share information with HMRC?

From January 2024, new UK digital sales reporting rules require digital platforms like eBay to share information with them. However, this reporting doesn’t change your tax obligations.

On eBay, this should only affect newly registered accounts in 2024, which will extend to all accounts in 2025.

eBay will only report if you pass certain yearly sales thresholds:

• If your total sales on eBay exceed €2000, or roughly £1740, after fees.

• If you complete 30 or more sales transactions on eBay.

In general, selling personal items is not taxed if they’re below £6,000 and you’re not selling as part of a business.

https://www.ebay.co.uk/sellercentre/selling/selling-online-and-hmrc