>Adam Jay, chief executive of the second hand marketplace platform Vinted, told the BBC that the rules would not affect many of the site’s sellers.
>
>”It’s actually quite a small proportion of users of our platform who will trigger this threshold where we need to provide information,” he said.
>
>**”It’s only those people who are making a profit from selling second hand items that might be eligible for tax** and then it’s about their own personal tax situation what tax would ultimately be due to HMRC,” he said.
How do they figure out profit on second hand items?
I’d tax anyone using the stupid side hustle bullshit phrase. It’s a part time job.
Maybe Hmrc should focus on all the corporate tax avoidance
Lol do they really have the man power to achieve this…? It’ll be typical scaremongering so that more people do a self assessment, how could they possibly know about someone’s side hustle if they’re on PAYE
I seem to recall reading about a guy called Jeff Bezos who started a garage based side hustle selling books and now pays a fraction of the UK tax he should to the HMRC by registering his trillion dollar company in Luxembourg. But fuck it, I will declare my 1000 pounds in sales of my old electronics on eBay, because I am the bigger person here.
So what if people just sell on Facebook marketplace for cash
A lot of people get a “side hustle” is to pay for basic amenities, perhaps they should look at big corporations instead
Not going after the tory side hustle sites where you can pick up cut price honours or special access to contracts then.
Meanwhile Sunak and his Mrs pay little tax; Michelle Mone is living it up; Jacob Rees Mogg still hiding his wealth in trusts.
But you made £5 on eBay? Hand it over plebes!
As a party of “business” they’re making it hard for all but the largest businesses. Pricks.
I’d rather eBay Amazon apple Facebook, google paid the billions they should be paying
Thin edge of the wedge,they are incapable or have a vested interest in not taking the correct taxes off the large corporations,so they keep hitting the little guy who has to to this to survive,total shitshow of a country under this government
Side hustles like selling unusable PPE to the government?
Sure, don’t put effort into all the tax dodging Tory cronies.
I buy about 5 guitars secondhand per year, from £1500 to £6000.
I sell most or all of them again, rarely for a profit but never for a loss.
Am I affected?
The amount of misinformation on this is astounding
No laws have changed, HMRC don’t care about you selling your old stuff
Nothing is sacred in this country anymore. Gov wants a piece of EVERY pie.
£80~ a month is nothing
Its a little insane you need to register as self employed too. Surely there should be either a larger allowance (maybe the same as the one landlords get?) or keep the self employed shit for when you earn over £X profit?
How dare the British public make profit on goods sold.
Can we stop with the “side hustle” nonsense, if it’s a second job where a profit is made it’s taxable.
If you are passing on your old clothes it’s not taxable.
“ensuring a level playing field for all tax payers” – like people working in their free time to try and make some money are the problem not tax dodging corporations in a completely broken financial system. Fuck this country
Can anyone clarify what this actually means, say if I sold a secondhand car for £10k that originally cost me £12k, how would that work? Or selling multiple high value items in a year, say a laptop, phone, camera, PC etc, but all being secondhand and selling at a loss?
Fuck this entire country
You have politicians and their pals using every tax loophole and safe haven they can, costing a fortune and yet, you’re going to get nikel and dimed over a couple eBay transactions
The Tories are really squeezing every last drop they can before they fuck off to the Bahamas aren’t they :/
Wow, so if you are suddenly unemployed and need to sell any valuable possessions they will tax that too…
The state of this fucking country.
So many ways around this, as usual governments are behind.
The headline is misleading. This is not a new tax, nothing has changed.
The only thing that is different is HMRC is going to contract these companies to better check and contract people who may need to pay tax
Good, fuck scalpers and people with second “side jobs” not paying tax.
…there’s nothing new here. This is literally just HMRC collecting income tax when it passes the tax-free threshold, and requiring a self-assessment when trading income passes the £1k threshold.
28 comments
>Adam Jay, chief executive of the second hand marketplace platform Vinted, told the BBC that the rules would not affect many of the site’s sellers.
>
>”It’s actually quite a small proportion of users of our platform who will trigger this threshold where we need to provide information,” he said.
>
>**”It’s only those people who are making a profit from selling second hand items that might be eligible for tax** and then it’s about their own personal tax situation what tax would ultimately be due to HMRC,” he said.
How do they figure out profit on second hand items?
I’d tax anyone using the stupid side hustle bullshit phrase. It’s a part time job.
Maybe Hmrc should focus on all the corporate tax avoidance
Lol do they really have the man power to achieve this…? It’ll be typical scaremongering so that more people do a self assessment, how could they possibly know about someone’s side hustle if they’re on PAYE
I seem to recall reading about a guy called Jeff Bezos who started a garage based side hustle selling books and now pays a fraction of the UK tax he should to the HMRC by registering his trillion dollar company in Luxembourg. But fuck it, I will declare my 1000 pounds in sales of my old electronics on eBay, because I am the bigger person here.
So what if people just sell on Facebook marketplace for cash
A lot of people get a “side hustle” is to pay for basic amenities, perhaps they should look at big corporations instead
Not going after the tory side hustle sites where you can pick up cut price honours or special access to contracts then.
Meanwhile Sunak and his Mrs pay little tax; Michelle Mone is living it up; Jacob Rees Mogg still hiding his wealth in trusts.
But you made £5 on eBay? Hand it over plebes!
As a party of “business” they’re making it hard for all but the largest businesses. Pricks.
I’d rather eBay Amazon apple Facebook, google paid the billions they should be paying
Thin edge of the wedge,they are incapable or have a vested interest in not taking the correct taxes off the large corporations,so they keep hitting the little guy who has to to this to survive,total shitshow of a country under this government
Side hustles like selling unusable PPE to the government?
Sure, don’t put effort into all the tax dodging Tory cronies.
I buy about 5 guitars secondhand per year, from £1500 to £6000.
I sell most or all of them again, rarely for a profit but never for a loss.
Am I affected?
The amount of misinformation on this is astounding
No laws have changed, HMRC don’t care about you selling your old stuff
Nothing is sacred in this country anymore. Gov wants a piece of EVERY pie.
£80~ a month is nothing
Its a little insane you need to register as self employed too. Surely there should be either a larger allowance (maybe the same as the one landlords get?) or keep the self employed shit for when you earn over £X profit?
How dare the British public make profit on goods sold.
Can we stop with the “side hustle” nonsense, if it’s a second job where a profit is made it’s taxable.
If you are passing on your old clothes it’s not taxable.
“ensuring a level playing field for all tax payers” – like people working in their free time to try and make some money are the problem not tax dodging corporations in a completely broken financial system. Fuck this country
Can anyone clarify what this actually means, say if I sold a secondhand car for £10k that originally cost me £12k, how would that work? Or selling multiple high value items in a year, say a laptop, phone, camera, PC etc, but all being secondhand and selling at a loss?
Fuck this entire country
You have politicians and their pals using every tax loophole and safe haven they can, costing a fortune and yet, you’re going to get nikel and dimed over a couple eBay transactions
The Tories are really squeezing every last drop they can before they fuck off to the Bahamas aren’t they :/
Wow, so if you are suddenly unemployed and need to sell any valuable possessions they will tax that too…
The state of this fucking country.
So many ways around this, as usual governments are behind.
The headline is misleading. This is not a new tax, nothing has changed.
The only thing that is different is HMRC is going to contract these companies to better check and contract people who may need to pay tax
Good, fuck scalpers and people with second “side jobs” not paying tax.
…there’s nothing new here. This is literally just HMRC collecting income tax when it passes the tax-free threshold, and requiring a self-assessment when trading income passes the £1k threshold.