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I Sell Stuff at Car Boot Sales and On eBay. This Isn’t Taxable Income, Is It? - #AskAMS

AMS Accountancy are on hand to explain how selling at a car boot sale or on the internet can result in having to register as self-employed.

It all depends on whether you are trading. If you sell unwanted presents, or items after moving house etc., you need not tell H M Revenue & Customs about this income.

If you buy or obtain items to sell on and do this regularly and if you make a profit on goods you have bought/made/grown, then you are trading. In this case you should register as self-employed with HMRC. You may also have to prepare accounts and submit them to HMRC, and pay tax on the profits. If you are on Benefits, you should notify the Benefits Office of your extra income – which could affect benefit claims/tax credits. Example: Jim buys goods at car boot sales and sells them on eBay. It is trading, even if he only does it once a month

AMS Accountancy Ltd

AMS Accountants in Swindon provide a complete accountancy service for small businesses in Wiltshire and a monthly accountancy service for contractors throughout the UK.

Delta 606, Welton Road, Swindon, SN5 7XF

Website Email 01793 818400

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I Sell Stuff at Car Boot Sales and On eBay. This Isn’t Taxable Income, Is It? - #AskAMS

AMS Accountancy are on hand to explain how selling at a car boot sale or on the internet can result in having to register as self-employed.

AMS Accountancy Ltd

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