Tax on Vinted sales!?

182 replies

Lewiscapaldiscat · 02/01/2024 13:56

Article

I can’t believe what I have read?

so the rich can own 5 properties and that’s a hobby but selling your kids old clothes at a loss is a profit?

you only have to sell £84 month to fall foul of this! (£1000 a year!)

thoughts?

Selling goods online? Be warned: HMRC will soon know about it | Tax | The Guardian

Whatever it is, from used clothes on Vinted, collectables on eBay, to Airbnb lets, profits will now be under scrutiny

https://amp.theguardian.com/money/2024/jan/01/selling-goods-online-be-warned-hmrc-will-soon-know-about-it

OP posts:

CrazyDaisy0 · 02/01/2024 14:03

No, you don’t pay tax when you sell your old clothes. You only need to declare/pay tax if you are trading - ie with a profit seeking motive.

I’m a tax adviser so feel free to ask Qs.

Silvergreenblue · 02/01/2024 14:01

I didn't think you had to pay tax if you were selling your old things? If you had a business selling 2nd hand items then that would be different.

tescocreditcard · 02/01/2024 14:00

It's always been the case that if you earn more than £1000 you have to fill in a self assessment.

Don't worry though - HMRC simply don't have the staff to do all this. They can't cope with what they do now - there are huge backlogs on everything.

mateysmum · 02/01/2024 14:00

I really don't see how owning property and paying tax on Vinted income equates. If you have income from whatever source then you are subject to the relevant tax laws. Simples. Doesn't matter if you're a millionaire or a single mum on benefits, the tax is due equally.

aSwarmOfMidgies · 02/01/2024 14:00

Any taxes are for people who are buying and reselling to make a profit - not for people who sell on clothes and toys after personal use

It's a loophole otherwise - it seems a small number of people are using those platforms to host their business

MarshmallowWorld · 02/01/2024 13:59

Omg that's ridiculous!!

StephanieSuperpowers · 02/01/2024 13:58

It seems odd to me. Vinted and other things of that kind are a great way to recycle and reduce waste. It really shouldn't be discouraged.

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