Vinted - have you informed HMRC about sales, or earnings. Im under the threshold but been told to report 🤷‍♀️

[CornishTeaTime]

Vinted has advised to report/complete a form Ive made £600 since starting with them over 65 sales.

I work part time and also do self employed work one day a week which Im registered for...do I need to declare vi ted earnings on my tax assessement in April 🤷‍♀️

Anyone done this?

I wouldn’t worry about telling them. If there’s no tax due they won’t tax you.

Exactly! Even the £1000 is profit not turnover.

If you're self employed anyway, AFAIK you have to declare the £600-ish anyway, because the under £1000 rule is your total self employed earnings not just selling things specifically on Vinted. Just fill out the form.

If you had any of the original receipts could you demonstrate that had indeed made a loss?

There will be no tax to pay unless you've sold items for a profit, i.e. you've sold them for more than they cost when you bought them. That is unlikely for second-hand goods.

Vinted and some other platforms (Airbnb and eBay, for example) now have to inform HMRC by the end of January of anyone who has made sales of £1,725 or 30 items. For Vinted, this triggers you being asked to complete a "sellers report". This does not mean you are liable for any tax.

I disagree with those who say you should ignore the form. You should complete it. Failing to complete it could result in HMRC trying to tax you on your sales.

Does everyone who sells on vinted have to do a form?

Only if, in the last 12 months, you have sales of £1,725+ or have sold 30+ items.

Not sure from your post, but are you aware self-assessment tax form has to be completed by 31/01 ?

And any tax due must be paid by this date to avoid penalties.

It's just a form Vinted want you to fill out as you've made over 30 sales. They will ask for you NI number so they can pass the information on to HMRC. All of the selling sites now do this

go to government web site and check it out there is an assessment thing you can follow https://www.gov.uk/check-additional-income-tax

No it’s not

I had 79 transactions last year, more items than that but haven’t been asked to do the form. I made about £1,300 but it was all selling my children’s clothes so no ‘profit’ as such.

No it isn't.

How do we know if we need to do a form? How do you know your number and amount of sales?

It tells you on your Vinted account - just go to your profile.

It's income not profit

www.gov.uk/guidance/tax-free-allowances-on-property-and-trading-income#insa

This. If you are selling your own items for less that what you originally paid for them then no tax is due. Vinted have to notify anyone who sells over a certain amount to the HMRC but it doesn't mean you have to pay tax.

I've sold over £4000 of items on Vinted in the last year, but it's all personal clothing (5 children, and some higher end pieces) - but I sold them for less than they were purchased for, so no tax due.

I did however read an article this week of a young woman who had sold her childs outgrown clothing on Vinted - she had a standard review with universal credit and they have taken her Vinted earnings as income and she now has to pay money back to them. This is horrendous!

If you have been selling after April 24 you don't need to do self assessment now doesn't need paying until 2026.
If its just your own things you are selling it doesn't matter you don't need to do anything.

How much tax do they want from us? Pay tax on salary, then pay road tax and petrol tax and food tax and airport tax and inheritance tax and council tax and now what - tax on your old shite? Seriously?

The number of transactions you have had requires Vinted to submit a report to HMRC

But you will not be liable to pay additional tax on those as you are selling personal items not for profit

Vinted have asked you to report because you have gone over the required amount of sales. As you have made 65 sales then Vinted contact you. It is on their website and states anything over 30 sales and they ask you to report

I stand corrected, sorry!

That seems a bit strange to me because the rest of self-employment income is calculated on a profit basis. If you spend £5000 on clothes and sell them on for £1000, how is that £1000 income, really? But I don't make the rules.

Surely you have enough intelligence to realise that some people will trade using sites like Vinted to evade income tax illegally?

These rules are to catch those who buy stuff cheap and try to sell on for profit, not people clearing out their unwanted stuff.

It's always been the same with selling cars - traders masquerade as private sellers and HMRC have to spot them online.

Mine is due April. Last year I did it in April. @Georgyporky

Go to your profile, scroll down to legal information, then tap HMRC reporting centre and it'll say in a little message at the top if you need to do the form.