5

I'd like to sell my own camera gear (for a total of less than £4k) on eBay UK or Amazon UK.

Since I'm not a business and I am losing money (I would sale for less than what I bought it for), I thought filing taxes would not be necessary, but I'm no expert about UK tax regulations and I could not find much.

6

In simple terms, it is a business operation when it becomes a profit-making enterprise.

It is a grey area, but there is a difference between selling occasional personal items on eBay and selling for profit.

I would imagine the sort of considerations HM Revenue & Customs would take into account are the size of your turnover, the extent to which you are both buying and selling, and whether you are clearly specialising in one particular commodity as opposed of disposing of unwanted presents or clearing the loft.

http://www.ebay.co.uk/gds/When-does-eBay-selling-become-taxable-/10000000004494855/g.html

I don't believe that you selling your personal camera gear will be taxable, but as the link says, it is a grey area.

They also recommend to do this

It's far better than having to deal with an investigation a few years down the line.

When it comes to completing your tax return, there is a section which is headed "other income", and it is here where you will enter the net earnings from the web business.

"Net" here means your additional income, less all expenses associated with it.

If you are still worried

I would always encourage people to take a cautious approach and discuss their position with HMRC via its helpline on 08454 915 4515.

  • 1
    "Profit-making enterprise" is key. If you bought something, used it, and are now selling it for less than you bought it, it is loss-making. And hence OP doesn't need to declare it as income. – AndyT Dec 22 '16 at 14:04

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