FabSwingers.com forum: New Tax Laws

By (user no longer on site) OP
over a year ago

So having a discussion tonight about this.

Do u sell on ebay, Vintage or Gumtree and othr selling sites etc? Arranging Socials/Events etc? These platforms have to divulge who uses them for selling goods.

New Laws as of 1st Jan 2024 mean if u earn over £1000 in a year you need to declare to tax.

How will this affect folk?

I dont sell much on any platforms but have used fbook marketplace. So i need to keep a note if i sell and then declare if obver £1000.

Bit of a mindfield. Would be interested to know others opinions on this. X

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By *inaTitzTV/TS
over a year ago

Titz Towers, North Notts

I don't believe it's a problem if you're already wealthy enough to declare yourself a construct, route all of the money through a few tax havens, deposit it in a trust and then just take a dividend.

Anyone fairly normal, will have to watch out, though.

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By (user no longer on site)
over a year ago

Honestly people selling home made cakes on Facebook have had it too easy too long and it’s about fucking time we cracked down on it

Im reporting my niece to HMRC this week. Dunno if she even sells anything online because she’s 12 but it’s better safe then sorry

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By (user no longer on site)
over a year ago

If you purchased the items previously and are then reselling (recouping some of what you paid out) then the threshold doesn’t apply. This is a tax on profits, let’s say you make cushion covers at home and you sell them for more than they cost to make, you’ll have to declare your earnings on your tax return. It’ll also catch those who habitually buy from TKMaxx and then sell-on for a profit on eBay.

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By *ornLordMan
over a year ago

Wiltshire and London

It's another ruse to clamp down on the little people, divert HMRC resources into persecuting them and let HMRC report an increased success rate - all the while letting the big fish get away with it because it's too difficult and expensive to bring them.to task.

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By (user no longer on site)
over a year ago

If a business sold the same products must pay tax, I don’t see why someone doing the same from home shouldn’t.

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By *ellinever70Woman
over a year ago

Ayrshire

It's not something new and it's highly unlikely to affect the majority of folks selling on these places

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By *eedsmale36Man
over a year ago

Leeds

"So having a discussion tonight about this.

Do u sell on ebay, Vintage or Gumtree and othr selling sites etc? Arranging Socials/Events etc? These platforms have to divulge who uses them for selling goods.

New Laws as of 1st Jan 2024 mean if u earn over £1000 in a year you need to declare to tax.

How will this affect folk?

I dont sell much on any platforms but have used fbook marketplace. So i need to keep a note if i sell and then declare if obver £1000.

Bit of a mindfield. Would be interested to know others opinions on this. X"

Don’t think HMRC has the resources to investigate all e bay sellers who make over 1k, just carry on and if they investigate you give the HMRC fucktards the 20% corporation tax they are after.

Fucking waste of everyone’s time, why don’t they just go mob handed into Amazon, Apple, etc and do a proper job there.

By the way E Bay is a registered business in Luxembourg, I wonder fucking why !!

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By *eedsmale36Man
over a year ago

Leeds

"It's not something new and it's highly unlikely to affect the majority of folks selling on these places "

The shares in my used condom business have just plummeted overnight

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