- Posts: 4
- Forum
- Members forums
- ESA, PIP, UC and DLA Queries and Results
- Do you have to declare to o Uc £700 pounds of seedling some stuff on eBay ?
× Members
Do you have to declare to o Uc £700 pounds of seedling some stuff on eBay ?
- Giovanni
- Topic Author
- Offline
Less More
2 days 17 hours ago #312445 by Giovanni
Do you have to declare to o Uc £700 pounds of seedling some stuff on eBay ? was created by Giovanni
Do you have to declare to o Uc £700 pounds of seedling some stuff on eBay ?
Please Log in or Create an account to join the conversation.
- David
- Offline
Less More
- Posts: 3374
2 days 5 hours ago #312448 by David
Nothing on this board constitutes legal advice - always consult a professional about specific problems
Replied by David on topic Do you have to declare to o Uc £700 pounds of seedling some stuff on eBay ?
HI Giovanni
You will have to provide more information regarding the "stuff " eg home grown vegetables.....hand made pottery.....unwanted personal possessions ?
David
You will have to provide more information regarding the "stuff " eg home grown vegetables.....hand made pottery.....unwanted personal possessions ?
David
Nothing on this board constitutes legal advice - always consult a professional about specific problems
The following user(s) said Thank You: Invisible
Please Log in or Create an account to join the conversation.
- Invisible
- Offline
Less More
- Posts: 197
19 hours 11 minutes ago #312480 by Invisible
Replied by Invisible on topic Do you have to declare to o Uc £700 pounds of seedling some stuff on eBay ?
here's what I know:
if you sell your item, and you did not make a profit or you made a loss, that's fine, IF you can produce a receipt for the cost.
If you made a profit, that's income, so you have to report it. I see some people thinking that if it's 'infrequent' it's ok to just forget about it.....bad idea.
Be prepared to show the cost, if you made a profit, in the form of receipts. What I do when selling some of my items: if I can't produce a receipt that shows cost, because for example I bought the item ten years ago and who knows where's the receipt, then I declare the ENTIRE sum as profit, no matter that I paid for it.
Then no one can accuse me of fraud. If you are asked for receipts by either the DWP or HMRC and you haven't got them: bad idea.
if you sell your item, and you did not make a profit or you made a loss, that's fine, IF you can produce a receipt for the cost.
If you made a profit, that's income, so you have to report it. I see some people thinking that if it's 'infrequent' it's ok to just forget about it.....bad idea.
Be prepared to show the cost, if you made a profit, in the form of receipts. What I do when selling some of my items: if I can't produce a receipt that shows cost, because for example I bought the item ten years ago and who knows where's the receipt, then I declare the ENTIRE sum as profit, no matter that I paid for it.
Then no one can accuse me of fraud. If you are asked for receipts by either the DWP or HMRC and you haven't got them: bad idea.
Please Log in or Create an account to join the conversation.
- Chris
- Offline
Less More
- Posts: 1364
4 hours 4 minutes ago #312484 by Chris
Nothing on this board constitutes legal advice - always consult a professional about specific problems
Replied by Chris on topic Do you have to declare to o Uc £700 pounds of seedling some stuff on eBay ?
Hi Giovanni,
I was asked about my ebay transactions just this week! Selling and buying - what items, and why. My sales for the year were £189, and my purchases £281.
Chris.
I was asked about my ebay transactions just this week! Selling and buying - what items, and why. My sales for the year were £189, and my purchases £281.
Chris.
Nothing on this board constitutes legal advice - always consult a professional about specific problems
The following user(s) said Thank You: Invisible
Please Log in or Create an account to join the conversation.
Moderators: Gordon, latetrain, BIS, Catherine12345, Chris, David, Keely, Jasmine