Curious.. is this considered an income?

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so say someone was buying and selling stuff at a rapid rate? They go to car boots, flea markets, auctions and buy off Facebook etc and buy some old or faulty items and spend some time doing them alongside their normal job (although signed off their official job at the minute for various reasons) and selling them via Facebook or eBay. Does it count as an income? If they are selling items for often hundreds, even sometimes in the thousands? I’m not sure how much profit is made, some items are probably found to be unfixable but other items can be fixed and sold on at a decent price.

this is not or dh but someone we know! Just genuinely curious really!

I am all for people making money where they can in the current climate but concerned about what kind of issues making money like this can cause?

their garden is like a bloody scrap yard!

Are you concerned, in that you want to help them fill in the appropriate paperwork or tax returns?
Or are you concerned they are fiddling the system, and you want to dob them in?

Yes, it is an income

How could it not be income? Unless it's costing them more than they're making? In which case it's a hobby!

Yes, it's an income and potentially taxable.

It's income but the vast majority of people doing it as a 'side hustle' will be covered by the £1k trading allowance.

There is a trading threshold of £1k per year. If they keep under this there is no need to tell anyone.

I’m not doing to dob them in, even if they shouldn’t doing it.

I would imagine it’s over that but I wouldn’t know for sure. I guess it depends on the profit he’s making on each item.

It diesnt matter what anyone one else calls it if you are taking about paying tax it then there are rules about what you have to declare

I think there is partly enjoyment but it’s almost definitely to make money. The person has always liked to find a way to ‘make money’ - usually because they’ve spent all the money form usual job on alcohol or crap they don’t need then make up the shortfall by selling stuff.

What business is it of yours?
Leave them be.

Of course it's an income. Trotters Independent Trading innit.

I hope the folk who accuse others of wanting to dob in a tax avoider don’t also whinge about the lack of money for nurses, nhs etc

So many people don’t declare income it must affect the tax bottom line of the country.

Yes it’s an income but I as others have said not really anyone else’s business.

Fair point. I just don’t want it to bite them on the ass one day and they claim they have ‘no money’ to pay for their child!

Oh in that case report them. I really dislike people who try to avoid taking responsibility for their children.

Why do you think they shouldn't be doing it? It's called trading. Buying something for a low price, fixing it up if necessary and selling it on. Many, many individuals and companies do it. It is the premise of business (think Tesco)
There's a chap down the road from me makes some lovely garden and small furniture items from old pallets that he collects for free and sells from his front garden after advertising on the local Facebook page. If he makes enough money he should pay tax on the profit and then maybe get a shop.
Or is it just the 'garden looks like a scrapyard' element that's getting to you😃

I never said they shouldn’t be doing it. I was just curious of the implications of doing so!

The faux concern for their child is just an attempt to cover your nastiness.

This.

Seriously they are working and have a side hustle they are not contributing to the fownfall of the NHS the government can do that all by itself

This is such a weird question - the "implications of doing so" are surely either that they make more than they spend, in which case yes it's an income, or they spend more than they make in which case it's a hobby and no, not an income...

It's quite normal to buy and sell things?

(and I am fairly certain you are allowed to make money "like this" by doing things up - no concern needed, no issues caused!)

In fairness to OP sometimes it’s not obvious whether it is a trade or not, sometimes things fall under Capital Gains Tax and wasting chattels etc, rather than Income Tax and you have to look at badges of trade. It’s not always as clear cut as making a profit or not.

How much tax do you think a car booter pays? Probably not even enough to pay for a nurse for a week.