Yes, You Need to Pay Taxes on eBay & Craigslist Sales

Midlanders making a few pounds on the side on the auction site should read this. Thousands of Brummies supplement their income by selling odds and ends on eBay. For some it turns into a major source of cash - but make too many deals and the tax inspectors could come knocking on your door! The moment it turns from being a private enterprise into a business is hard to gauge - here's some advice which could help you knowing when you cross that threshold, as highlighted in chroniclelive.

There is a difference between selling a few unwanted household items, which will not attract tax, and moving on more than can reasonably be expected from the occasional clear-out which may attract a tax demand. The taxman would deem you are running a business if you make a regular profit but that might not in itself invite a tax demand.

Things might become easier in April when changes announced in the last but one budget come into force. Not for occasional use - selling a few books and clothes at a loss from the original purchase price. They will have to make a tax return eg Self Assessment and then pay any tax owed. The website This Is Money says: The taxman puts all the information obtained from sites into a sophisticated computer system which flags up possible avoidance.

There are occasional crackdowns meant to trawl in offenders but small traders should still be worried about getting caught in the net. HMRC is not the most user-friendly government department and it is a good idea to keep full records of what you sell, how much it cost you, and how much you sold it for. Yes - for example a DVD and music businessman was jailed for two years for failing to pay tax on , items he sold on eBay. He was charged with cheating the public revenue and concealing or transferring criminal property.

Are you buying to sell? By Ian Robson Ben Hurst. Video Loading Video Unavailable. Click to play Tap to play. The video will start in 8 Cancel Play now. Like us on Facebook Follow us on Twitter Daily Newsletter. Subscribe to our Daily newsletter Enter email Subscribe. News all Most Read Most Recent.

Yardley and Stechford Firefighters battle blaze at Yardley house seized from drug dealer Fire on Stoney Lane believed to have been started deliberately. Bullring Have-a-go-hero who tackled Bullring axeman as he fled police wins bravery award Selfless Dale Sly barged into Rinemo Burrowes as he tried to outrun officers through the city cente.

West Midlands Police Schoolboy, 15, dies in lake tragedy in Pelsall while swimming with friends West Midlands Police release statement after tragedy on the Ryder's Hayes estate.

Half-naked hotel guest KICKED OUT after offering homeless woman his spare room Friends forced to spend the night in a car park. Birmingham weather When are storms forecast to hit Birmingham?

The nine-point test that tells eBay sellers if they must pay tax - Telegraph

With the heatwave coming to an end, major storms are predicted to batter the UK. Bilston Dog shot dead by neighbour after savagely attacking man in Bilston The year-old victim was rushed to hospital with serious bite injuries.

BBC BBC News at Ten technical fault leaves Huw Edwards sat in silence for AGES For several minutes viewers on some devices saw Edwards seemingly unaware that the cameras were rolling. Facebook Breast milk ice lollies and other ways to keep babies cool in heat Signs of overheating include youngsters becoming restless and unable to sleep. Most Read Most Recent. Aston Villa FC Aston Villa flop set for shock Chelsea switch Now this would be a surprise, Aston Villa fans. Channel 5 Birmingham City news and transfer digest: John Terry chase - the end?

The Harry Redknapp advantage, John Bostock lowdown All the latest Birmingham City news. John Terry Birmingham City transfer news: Harry Redknapp discusses John Terry bid Harry says Terry would be a 'massive player' for BCFC.

Aston Villa FC Aston Villa transfers: Wales international on Steve Bruce's radar The midfielder is also wanted by West Brom and Derby County. Barclay's Premier League January transfer window Every Premier League deal so far A look at who has done what business in the Premier League so far. Drayton Manor Theme Park Drayton Manor - tickets, opening times, rides, hotel, Thomas Land and short break deals All the essential information you need on Drayton Manor including tickets, rides, opening times and the hotel.

Bilston Dog shot dead by neighbour after savagely attacking man in garden The year-old victim was rushed to hospital with serious bite injuries. Yardley and Stechford Firefighters battle blaze at house seized from drug dealer.

how much money can you make on ebay without paying tax? - fadukuvo.web.fc2.com Forums

Fire on Stoney Lane believed to have been started deliberately. Midlands News Pupils sent home in 30C heatwave for refusing to wear blazers.

Parents have claimed one student nearly fainted because it was so hot and refused to take off his blazer. West Midlands Police Schoolboy dies in lake tragedy while swimming with friends West Midlands Police release statement after tragedy on the Ryder's Hayes estate. BBC BBC News at Ten technical fault leaves Huw Edwards sat in silence for AGES. For several minutes viewers on some devices saw Edwards seemingly unaware that the cameras were rolling.

Midlands traffic and travel Updates: Crash and spillage blocking M6 - latest news and travel All the latest news updates throughout the day on Wednesday, June Jewellery Quarter Hotel guest KICKED OUT after offering homeless woman his spare room Friends forced to spend the night in a car park. Asda Shopper 'shocked' as Little Mermaid Ariel appears 'topless' on Asda Disney swimming costume.

Due to an error during manufacturing, the much-loved Disney princess' shell bra had not been printed. West Midlands Police CHILDREN locked up by police at night - because of secure homes crisis. Custody cell report also raises concerns over potential for detainees to self-harm. Facebook Breast milk ice lollies and other ways to keep babies cool in heat.

Signs of overheating include youngsters becoming restless and unable to sleep. Midlands News Police, ambulances and fire crews at major incident in Pelsall Pictures show four ambulances and a fire engine in attendance around St Andrew's Avenue. Midlands News Pupils sent home in 30C heatwave for refusing to wear blazers Parents have claimed one student nearly fainted because it was so hot and refused to take off his blazer.

Midlands traffic and travel Birmingham Live: Crash and spillage blocking M6, house hit by 'arson attack', latest news and travel updates All the latest news updates throughout the day on Wednesday, June English Defence League Calls to BAN Britain First march in Birmingham after Finsbury Park terror attack MP Khalid Mahmood condemned the group and urged civic authorities to cancel the weekend march. West Midlands Police CHILDREN locked up by police at night - because of secure homes crisis Custody cell report also raises concerns over potential for detainees to self-harm.

Birmingham City Council Emergency fire hoses REMOVED in Birmingham tower block just one day after Grenfell Tower disaster City council defends removal of the hoses after 'consultation with fire service'. BBC DIY SOS called into grieving family's West Brom home - and they need YOUR help Their Big Build team will be erecting a two-storey extension to help give the family space to grieve.

Terrorism Outrage over Finsbury Park Facebook post saying: West Mercia Police Republican dissident lured men to help her kill police officer by posing as Swedish model Christine Connor, 31, jailed for 16 years after joint operation involving West Midlands and West Mercia Police. Jaguar Land Rover Worker dies at Jaguar Land Rover plant A spokesperson for the car giant said it was "deeply saddened" by the incident.

Midlands News The Kodi add-ons still working amid illegal streaming crackdown More and more add-ons for the service are shutting down amid the clampdown. English Defence League Katie Hopkins and JK Rowling in furious Twitter row over Finsbury Park attack One man died after pedestrians were targeted by a man driving a van near Finsbury Park Mosque in north London.

UK News Grenfell Tower hero firefighter forced to make impossible decision on 20th floor As fire ripped through the building and smoke engulfed him and his partner, the anonymous firefighter has described how he had to make a difficult choice.

Follow us facebook twitter instagram. This website uses cookies. Using this website means you are okay with this but you can find out more and learn how to manage your cookie choices here. Close cookie policy overlay.