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UK Caravanning (uk.rec.caravanning) A forum for the discussion of caravanning undertaken by residents of the United Kingdom, whether in the UK or abroad. It encourages the interchange of views on the merits of models of caravan, makes of tow car, accessories, caravan sites, caravan clubs, and other related topics. The term caravan is to include trailer vans, motor caravans and trailer tents.

OT Inland Revenue Tax.



 
 
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  #1 (permalink)  
Old May 13th 06, 04:38 PM posted to uk.rec.caravanning
David
external usenet poster
 
Posts: 1,622
Default OT Inland Revenue Tax.

Sorry OT but I know we have a good mix of people here and one can find
experts on allmost anything.

It regards Ebay, and many of us have bought caravan and other items there,
and possibly sold our surplus items there.
It is regarding us ordinary people selling our s/h items on Ebay and Tax.
A friend who as sold many items on Ebay as been approached by the Inland
Revenue and asked to provide details of his sales there.
Apparently in April Ebay had to give details of bussiness and high usage
sellers to the Inland Revenue. They will later be asking Ebay for details
of the rest of us, Ebay are reluctant I'm told to do this. Ebay consider
this will put ordinary people off selling through Ebay.

Now the question.
When ordinary people sell something s/h, Ebay or in local paper etc. should
it be declared and tax paid?


--
Regards
David

Please reply to News Group


Ads
  #2 (permalink)  
Old May 13th 06, 04:48 PM posted to uk.rec.caravanning
Sarah and Lloyd
external usenet poster
 
Posts: 222
Default OT Inland Revenue Tax.


"David" wrote in message
...
SNIP
When ordinary people sell something s/h, Ebay or in local paper etc.
should it be declared and tax paid?


--
Regards
David

HI David

Not a expert or anything like this but seem to remember something on BBC
Breakfast about this couple of years or so back, arent you legitimately
allowed to sell something like 9000 worth of stuff before it is classed as
a taxable business per year? just like you can have a lodger and as long as
the rent is less than 4200 per annum you dont pay tax on that either.

Im sure I will be corrected on these facts!
Lloyd


  #3 (permalink)  
Old May 13th 06, 04:48 PM posted to uk.rec.caravanning
Sarah and Lloyd
external usenet poster
 
Posts: 222
Default OT Inland Revenue Tax.


"David" wrote in message
...
SNIP
When ordinary people sell something s/h, Ebay or in local paper etc.
should it be declared and tax paid?


--
Regards
David

HI David

Not a expert or anything like this but seem to remember something on BBC
Breakfast about this couple of years or so back, arent you legitimately
allowed to sell something like 9000 worth of stuff before it is classed as
a taxable business per year? just like you can have a lodger and as long as
the rent is less than 4200 per annum you dont pay tax on that either.

Im sure I will be corrected on these facts!
Lloyd


  #4 (permalink)  
Old May 13th 06, 04:48 PM posted to uk.rec.caravanning
Sarah and Lloyd
external usenet poster
 
Posts: 222
Default OT Inland Revenue Tax.


"David" wrote in message
...
SNIP
When ordinary people sell something s/h, Ebay or in local paper etc.
should it be declared and tax paid?


--
Regards
David

HI David

Not a expert or anything like this but seem to remember something on BBC
Breakfast about this couple of years or so back, arent you legitimately
allowed to sell something like 9000 worth of stuff before it is classed as
a taxable business per year? just like you can have a lodger and as long as
the rent is less than 4200 per annum you dont pay tax on that either.

Im sure I will be corrected on these facts!
Lloyd


  #5 (permalink)  
Old May 13th 06, 06:40 PM posted to uk.rec.caravanning
RB News
external usenet poster
 
Posts: 111
Default OT Inland Revenue Tax.


"David" wrote in message
...
Sorry OT but I know we have a good mix of people here and one can find
experts on allmost anything.

It regards Ebay, and many of us have bought caravan and other items there,
and possibly sold our surplus items there.
It is regarding us ordinary people selling our s/h items on Ebay and Tax.
A friend who as sold many items on Ebay as been approached by the Inland
Revenue and asked to provide details of his sales there.
Apparently in April Ebay had to give details of bussiness and high usage
sellers to the Inland Revenue. They will later be asking Ebay for

details
of the rest of us, Ebay are reluctant I'm told to do this. Ebay consider
this will put ordinary people off selling through Ebay.

Now the question.
When ordinary people sell something s/h, Ebay or in local paper etc.

should
it be declared and tax paid?


--
Regards
David

Please reply to News Group


If you could be classed as an 'adventure or concern in the nature of trade'
then yes, you are liable to tax on any profits. So if you buy stuff
regularly and sell it for more than you paid for it, you are 'trading' at a
profit. However if you are talking of personal items which you have owned
and used for your own benefit for a reasonable period then sell as
second-hand items (e.g. a caravan) then you are in any case likely to be
selling for less than you paid, hence there is no profit or capital gain to
be taxed. (You could argue if you did this often enough in the course of a
business you would be trading at a loss and the IR would owe you a rebate -
so they're pretty unlikely to chase this sort of transaction.) For
occasional sales of items for which the value has appreciated (e.g.
antiques, collectables, fine art, etc) and you sell for more than you
bought, provided it's a personal sale and it's within your annual capital
gains allowance, no tax is due. However if you are doing this commercially
to the extent you could be classed as a dealer, then you would be taxed on
the profits. And case law doesn't always require repetition - in unusual
cases a single transaction could be classed as trading.

For more info see:

http://www.taxationweb.co.uk/busines...cle.php?id=146

http://www.taxationweb.co.uk/busines...ticle.php?id=1

and similar articles on that site.
Rog



  #6 (permalink)  
Old May 13th 06, 06:40 PM posted to uk.rec.caravanning
RB News
external usenet poster
 
Posts: 111
Default OT Inland Revenue Tax.


"David" wrote in message
...
Sorry OT but I know we have a good mix of people here and one can find
experts on allmost anything.

It regards Ebay, and many of us have bought caravan and other items there,
and possibly sold our surplus items there.
It is regarding us ordinary people selling our s/h items on Ebay and Tax.
A friend who as sold many items on Ebay as been approached by the Inland
Revenue and asked to provide details of his sales there.
Apparently in April Ebay had to give details of bussiness and high usage
sellers to the Inland Revenue. They will later be asking Ebay for

details
of the rest of us, Ebay are reluctant I'm told to do this. Ebay consider
this will put ordinary people off selling through Ebay.

Now the question.
When ordinary people sell something s/h, Ebay or in local paper etc.

should
it be declared and tax paid?


--
Regards
David

Please reply to News Group


If you could be classed as an 'adventure or concern in the nature of trade'
then yes, you are liable to tax on any profits. So if you buy stuff
regularly and sell it for more than you paid for it, you are 'trading' at a
profit. However if you are talking of personal items which you have owned
and used for your own benefit for a reasonable period then sell as
second-hand items (e.g. a caravan) then you are in any case likely to be
selling for less than you paid, hence there is no profit or capital gain to
be taxed. (You could argue if you did this often enough in the course of a
business you would be trading at a loss and the IR would owe you a rebate -
so they're pretty unlikely to chase this sort of transaction.) For
occasional sales of items for which the value has appreciated (e.g.
antiques, collectables, fine art, etc) and you sell for more than you
bought, provided it's a personal sale and it's within your annual capital
gains allowance, no tax is due. However if you are doing this commercially
to the extent you could be classed as a dealer, then you would be taxed on
the profits. And case law doesn't always require repetition - in unusual
cases a single transaction could be classed as trading.

For more info see:

http://www.taxationweb.co.uk/busines...cle.php?id=146

http://www.taxationweb.co.uk/busines...ticle.php?id=1

and similar articles on that site.
Rog



  #7 (permalink)  
Old May 13th 06, 06:40 PM posted to uk.rec.caravanning
RB News
external usenet poster
 
Posts: 111
Default OT Inland Revenue Tax.


"David" wrote in message
...
Sorry OT but I know we have a good mix of people here and one can find
experts on allmost anything.

It regards Ebay, and many of us have bought caravan and other items there,
and possibly sold our surplus items there.
It is regarding us ordinary people selling our s/h items on Ebay and Tax.
A friend who as sold many items on Ebay as been approached by the Inland
Revenue and asked to provide details of his sales there.
Apparently in April Ebay had to give details of bussiness and high usage
sellers to the Inland Revenue. They will later be asking Ebay for

details
of the rest of us, Ebay are reluctant I'm told to do this. Ebay consider
this will put ordinary people off selling through Ebay.

Now the question.
When ordinary people sell something s/h, Ebay or in local paper etc.

should
it be declared and tax paid?


--
Regards
David

Please reply to News Group


If you could be classed as an 'adventure or concern in the nature of trade'
then yes, you are liable to tax on any profits. So if you buy stuff
regularly and sell it for more than you paid for it, you are 'trading' at a
profit. However if you are talking of personal items which you have owned
and used for your own benefit for a reasonable period then sell as
second-hand items (e.g. a caravan) then you are in any case likely to be
selling for less than you paid, hence there is no profit or capital gain to
be taxed. (You could argue if you did this often enough in the course of a
business you would be trading at a loss and the IR would owe you a rebate -
so they're pretty unlikely to chase this sort of transaction.) For
occasional sales of items for which the value has appreciated (e.g.
antiques, collectables, fine art, etc) and you sell for more than you
bought, provided it's a personal sale and it's within your annual capital
gains allowance, no tax is due. However if you are doing this commercially
to the extent you could be classed as a dealer, then you would be taxed on
the profits. And case law doesn't always require repetition - in unusual
cases a single transaction could be classed as trading.

For more info see:

http://www.taxationweb.co.uk/busines...cle.php?id=146

http://www.taxationweb.co.uk/busines...ticle.php?id=1

and similar articles on that site.
Rog



  #8 (permalink)  
Old May 13th 06, 06:50 PM posted to uk.rec.caravanning
Roger Mills
external usenet poster
 
Posts: 418
Default OT Inland Revenue Tax.

In an earlier contribution to this discussion,
David wrote:

Sorry OT but I know we have a good mix of people here and one can find
experts on allmost anything.

It regards Ebay, and many of us have bought caravan and other items
there, and possibly sold our surplus items there.
It is regarding us ordinary people selling our s/h items on Ebay and
Tax. A friend who as sold many items on Ebay as been approached by
the Inland Revenue and asked to provide details of his sales there.
Apparently in April Ebay had to give details of bussiness and high
usage sellers to the Inland Revenue. They will later be asking Ebay
for details of the rest of us, Ebay are reluctant I'm told to do
this. Ebay consider this will put ordinary people off selling
through Ebay.
Now the question.
When ordinary people sell something s/h, Ebay or in local paper etc.
should it be declared and tax paid?


Like others, IANAL, but my understanding is this:
If you, as a private individual, are selling personal belongings etc. for
which you have no further use, that's nothing to do with the taxman. The
only exception to that is if you're selling something which has
*appreciated* in value - such as a work of art - while you owned it, you
could be subject to Capital Gains Tax. But you can make capital gains of
around 8 grand a year (from all sources) before being liable for CGT.

If you are buying items for resale, and selling them at a profit without
using them yourself, you are deemed to be running a business - and you *are*
then liable for tax. It sounds like this category of person who is being
targetted by the Revenue.
--
Cheers,
Roger
______
Email address maintained for newsgroup use only, and not regularly
monitored.. Messages sent to it may not be read for several weeks.
PLEASE REPLY TO NEWSGROUP!


  #9 (permalink)  
Old May 13th 06, 06:50 PM posted to uk.rec.caravanning
Roger Mills
external usenet poster
 
Posts: 418
Default OT Inland Revenue Tax.

In an earlier contribution to this discussion,
David wrote:

Sorry OT but I know we have a good mix of people here and one can find
experts on allmost anything.

It regards Ebay, and many of us have bought caravan and other items
there, and possibly sold our surplus items there.
It is regarding us ordinary people selling our s/h items on Ebay and
Tax. A friend who as sold many items on Ebay as been approached by
the Inland Revenue and asked to provide details of his sales there.
Apparently in April Ebay had to give details of bussiness and high
usage sellers to the Inland Revenue. They will later be asking Ebay
for details of the rest of us, Ebay are reluctant I'm told to do
this. Ebay consider this will put ordinary people off selling
through Ebay.
Now the question.
When ordinary people sell something s/h, Ebay or in local paper etc.
should it be declared and tax paid?


Like others, IANAL, but my understanding is this:
If you, as a private individual, are selling personal belongings etc. for
which you have no further use, that's nothing to do with the taxman. The
only exception to that is if you're selling something which has
*appreciated* in value - such as a work of art - while you owned it, you
could be subject to Capital Gains Tax. But you can make capital gains of
around 8 grand a year (from all sources) before being liable for CGT.

If you are buying items for resale, and selling them at a profit without
using them yourself, you are deemed to be running a business - and you *are*
then liable for tax. It sounds like this category of person who is being
targetted by the Revenue.
--
Cheers,
Roger
______
Email address maintained for newsgroup use only, and not regularly
monitored.. Messages sent to it may not be read for several weeks.
PLEASE REPLY TO NEWSGROUP!


  #10 (permalink)  
Old May 13th 06, 06:50 PM posted to uk.rec.caravanning
Roger Mills
external usenet poster
 
Posts: 418
Default OT Inland Revenue Tax.

In an earlier contribution to this discussion,
David wrote:

Sorry OT but I know we have a good mix of people here and one can find
experts on allmost anything.

It regards Ebay, and many of us have bought caravan and other items
there, and possibly sold our surplus items there.
It is regarding us ordinary people selling our s/h items on Ebay and
Tax. A friend who as sold many items on Ebay as been approached by
the Inland Revenue and asked to provide details of his sales there.
Apparently in April Ebay had to give details of bussiness and high
usage sellers to the Inland Revenue. They will later be asking Ebay
for details of the rest of us, Ebay are reluctant I'm told to do
this. Ebay consider this will put ordinary people off selling
through Ebay.
Now the question.
When ordinary people sell something s/h, Ebay or in local paper etc.
should it be declared and tax paid?


Like others, IANAL, but my understanding is this:
If you, as a private individual, are selling personal belongings etc. for
which you have no further use, that's nothing to do with the taxman. The
only exception to that is if you're selling something which has
*appreciated* in value - such as a work of art - while you owned it, you
could be subject to Capital Gains Tax. But you can make capital gains of
around 8 grand a year (from all sources) before being liable for CGT.

If you are buying items for resale, and selling them at a profit without
using them yourself, you are deemed to be running a business - and you *are*
then liable for tax. It sounds like this category of person who is being
targetted by the Revenue.
--
Cheers,
Roger
______
Email address maintained for newsgroup use only, and not regularly
monitored.. Messages sent to it may not be read for several weeks.
PLEASE REPLY TO NEWSGROUP!


 



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