Is this legal or do I need to pay tax?

12 replies

Yqppp · 27/05/2025 17:45

I am selling a few bits of DD’s toys that she no longer plays with. My plan is to keep the money for her to spend as she likes over summer. It’s looking like it might end up around 150. Do I need to pay tax on this? I’m a worrier! I am in the higher tax bracket with my income and now worried that this money is classed as extra and so should be taxed and paid to hmrc. Does anyone know the answer? Thanks.

OP posts:

BeNiceWhenItsFinished · 27/05/2025 17:46

You can sell personal possessions you no longer need and that is absolutely fine. Not classed as income, no tax to pay.

doodleschnoodle · 27/05/2025 17:46

No tax. You don’t pay tax on your own stuff you are selling on like this.

Didimum · 27/05/2025 17:47

No. Trading allowance is £1k per tax year.

AudiobookListener · 27/05/2025 17:48

Unless you sell them for more than you bought them for you won't make a profit, so no tax to pay.

ginislife · 27/05/2025 17:49

No - and so long as you can prove it’s your personal stuff you’re selling rather than buying to sell I’m fairly sure the £1000 trading allowance doesn’t apply

LoremIpsumCici · 27/05/2025 17:51

Technically, the items being sold and the £ generated is your DD’s income. Just stuff it in a child savings account.

Original poster

Yqppp · 27/05/2025 17:52

Thank you! I’ll crack on then!

OP posts:

BeNiceWhenItsFinished · 27/05/2025 17:54

Didimum · 27/05/2025 17:47

No. Trading allowance is £1k per tax year.

The OP isn't trading.

Trading is when you buy things for the specific purpose of selling them again to make a profit.

Selling your own or your dc's belongings that you no longer have a use for is not trading.

GRex · 27/05/2025 17:54

Max £1k/ year is fine. If you have another side hustle then you need to name the account as selling for DD, take money in cash and put in her account (or wallet).

BeNiceWhenItsFinished · 27/05/2025 17:56

@GRex It isn't a side hustle. Selling your old stuff is not a side hustle.

toomanydicksonthedancefloor1 · 27/05/2025 18:20

Ignore everyone with the £1000 rubbish, that’s only if you’re buying stuff for the specific purpose of selling on for profit. If you’re selling your own used items there is no limit. The news started all this £1000 scare mongering without reporting the proper facts about a year or so ago as it must have been a slow news day. Check on HMRC for yourself. So no you won’t need to pay any tax. Good luck.

BMW6 · 27/05/2025 18:28

HMRC of 32 years here. No, you don't need to declare sale of unwanted possessions. You're not trading.

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