John Lever
Moderator
Read today that accounts selling over 2000 gbp worth of items per year will be flagged to uk tax authorities.
Doesn't affect me but sobering nevertheless.
Doesn't affect me but sobering nevertheless.
The very people who have ruined ebay, by asking grossly inflated prices but with no knowledge of what they are selling.That will worry those that are running online businesses via that platform in the UK and not declaring the income to HMRC.
Clearly they and Dell Boy types are the sort of people it's aimed at but using a sledgehammer to crack a nut can be messy.I think it could well impact what on the face of it are small time sellers who ostensibly appear as though they are selling their own gear but in reality obtain items from the likes of bulk traders and charity institutions at budget prices who then list on Ebay at somewhat inflated prices.
Not if it means that someone like me who just sells stuff I don't want anymore has to pay tax on it. I used to be very much into hi fi and I bought and flipped a lot of expensive equipment over the years. I wasn't trading for profit just trading up mostly. But in some years I would sell thousands of pounds worth of stuff. I wasn't making any money on it, but just like with jackets I was getting back about what I paid for it.Surely we want these traders off Ebay ?
Prices these days are crazy
No of course notNot if it means that someone like me who just sells stuff I don't want anymore has to pay tax on it. I used to be very much into hi fi and I bought and flipped a lot of expensive equipment over the years. I wasn't trading for profit just trading up mostly. But in some years I would sell thousands of pounds worth of stuff. I wasn't making any money on it, but just like with jackets I was getting back about what I paid for it.
So why would someone like me who is using eBay the way it was first set up to be used to sell unwanted stuff have to pay tax on it just to catch a few bad actors?