Declaring cash from Ebay

[BoredBloke]

Surely you can get around it (muddy the waters) by using multiple ID's.

[Lucifer Box]

There was a case recently (interview on Radio 4 with a tax inspector) whereby a loft clearer (it was his own loft) had been reclassified as a trader because of the sheer volume of stuff he listed. He was sent a tax bill based on his profit (as I recall, there was also a CGT calculation for his childhood stamp album that turned out to be worth a lot of money).

You know what you should do, and the chances of being caught for not doing it are not large. But then again, the same is true of burgling a house. Theft is theft whether from the state or a householder.

[BoredBloke]

Wasn't there a thing in the press a while ago about this. Basically if you make over x number of sales then ebay has to notify the IR. I could google it but really can't be @rsed.

Tony in feeling somewhat tired mode!

[n5gooner]

What happens when you just sort of sell the stock from somewhere else and it errrr sort of disappears?

well don't you write stock off after water damage / fire damage / shop soiled, then throw it away (to ebay).

my company sells stuff on ebay as well, but it also sometimes sells stuff to me at a discount, I then sell it on ebay.

[AtW]

What happens when you just sort of sell the stock from somewhere else and it errrr sort of disappears?

Then you sort of will have to learn how not to drop soap in the showers?

[MarillionFan]

What happens when you just sort of sell the stock from somewhere else and it errrr sort of disappears?

[AtW]

What happens when it starts getting into thousands (£'s) comrade, not roubles?

It depends on whether its a business or not -- volume per se has no bearing on it even though obviously high sales are more typical to businesses.

The only issue IR can have if you get MORE money for something you bought before -- if you get less (as it typically happen with resale of goods) then its all yours.

Naturally if you can afford to have a few shops then you should afford professional opinion - I recommend starting with a good doctor

[MarillionFan]

What happens when it starts getting into thousands (£'s) comrade, not roubles?

[AtW]

AFAIK If you are selling your own stuff, like second sale then you don't need to declare it.

But if you use suckers like snaw to bid for your crappy plastique (sp?) automobile then you have to share these un-Godly gains with Mr Brown.

[DimPrawn]

You should declare everything in the name of "fairness".

Not.

[MarillionFan]

Whats the deal with it then? Do you? Do they? How do they know?

Just wondering.