20 vat reduction for all oversea buyer Eu and world wide!

[Steve Browning]

I started my training at the sub office at Chichester, then was based at Worthing and did the odd Summer at Portsmouth, as many of the VAT guys went over the road to do baggage bench or rummage duties at the port.

 

Chichester and Worthing closed down many years ago and the old Portsmouth VAT office is student accommodation.

Edited Wednesday at 06:56 by Steve Browning

[edstraker123]

Hi @Steve Browning,

I recently heard Ebay are reporting sales(presumably cumulative) over a certain amount to HMRC in case there are tax implications i.e they are assuming you are a business seller. I buy and sell a lot of musical gear - its a hobby and I usually make a loss on the sales - so if I sell gear on ebay for say £10,000  ( which actually cost me £12,000) how would that work tax wise or is it irrelevant or would need evidencing etc.

Edited Tuesday at 13:38 by edstraker123

[Steve Browning]

I am an indirect tax 'expert' (others have used that term!!). This is more likely to be direct tax (income tax related). 

 

I think that sales at a loss will not result in an income tax bill, but HMRC will look at all additonal income so if you lose 2k on sales but earn 3k gigging then you may have an issue. Obviously you look at what expenses are deductible to determine any tax actually due. It's pretty easy to run at a loss year on year. You would need to talk to a direct tax expert for the full picture. I always rail against the 'man in the pub' so I don't want to put myself forward as that man.

 

The test for business (in the UK changed) in 2022 and now consists of two conditions:-

• The activity results in a supply of goods or services for consideration – requiring there to be a legal relationship with reciprocal performance between the supplier and recipient; and
• The supply is made for the purpose of obtaining income therefrom (i.e. remuneration) – in essence, there is an economic activity.

That probably captures most people selling here (or anywhere). Gigging will fall under the services tag, as no tangible goods are involved.

Edited Tuesday at 13:52 by Steve Browning