Selling Your Old Gear on eBay?

Selling your old clothes on eBay, or the unwanted Christmas gifts or a sofa you want to change, is unlikely to mean that HMRC will be coming after you. They are much more sophisticated than that and would never want to waste their precious resources on a fruitless mission.

Lindsay sees many cases of undeclared online trading on eBay or Amazon and in every case HMRC have carefully selected them knowing the online feedback indicates thousands of customers.

They also trawl social media sites such as Facebook where you are likely to have laid out full details of your trading and social life!

The taxman continues to go for those for internet traders who make regular profits or run a lucrative business. Those doing it alongside their main job will be hardest hit as they have no tax-free personal allowances to cover their profits!

But don’t make the mistake of believing what you are doing is a hobby.

See my Blog on the ‘Badges of Trade’ before you assume what you do is a hobby as many dog and cat breeders have found out to their cost!

Please get in touch if you’ve got any problems. Lindsay will be happy to give you her advice, so give Lindsay a call on 07879 464 577 for a friendly chat.