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Will there be less traders on ebay from now on?
Topic Started: Jun 23 2012, 12:57 PM (1,076 Views)
laurence107
i-card
[ *  * ]
As a seller and tax payer the law is this:

If you buy goods to sell then you are classed as a business in the eyes of the HMRC and need to declare your profits and losses to them. They will, in turn, decided how much income tax and NS is due (if any). Sell a lot, sell a little, make a lot, make nothing, it doesn't matter, if you buy to sell you have to declare.
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