eBay Selling Fees

[fett1972]

EBay send HMRC a monthly sales report to HMRC.

 

[Palifan]

From the research I've done you have a limit up to £6K a year on selling personal items (as shown above), as this is the limit for inheritance income you can receive before getting taxed.

If you're a buying in new stock and re-selling it then it's a limit of £1K per year before you get taxed.

That's the way I've read it so I'm thinking things should be fine but we'll have to wait and see if the tax man comes calling. I have also heard that next year the personal tax limit will be halved to £3K, so we'll have to wait and see about that.

Ian

 

[fett1972]

From the research I've done you have a limit up to £6K a year on selling personal items (as shown above), as this is the limit for inheritance income you can receive before getting taxed.

If you're a buying in new stock and re-selling it then it's a limit of £1K per year before you get taxed.

That's the way I've read it so I'm thinking things should be fine but we'll have to wait and see if the tax man comes calling. I have also heard that next year the personal tax limit will be halved to £3K, so we'll have to wait and see about that.

Ian

It's not as straightforward as this. You also can take into account Captial Gains Tax Free Allowance

 

[Palifan]

It's not as straightforward as this. You also can take into account Captial Gains Tax Free Allowance

The Capital Gains Tax Free Allowance was what I was talking about, I thought you could sell up to this allowance of your old personal items before paying tax on it?

 

[Mini99]

I'm really glad that this is clear and simple!

 

[welshwookie]

I think if I had enough to sell, I'd seriously consider a table at echo or similar. Everyone likes cash, so much easier...