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Posted Sat, 16 Jul 2022 14:22:34 GMT by Ben Tucker
Hi, So, I've built up a pretty large game collection over the years (around 180 games) but i'm currently looking at moving and I've realised that it's just unfeasible to keep it all so i'd love to do a clear out and sell it all on ebay. Currently i've stopped at around the £600 total this year according to ebay as I'm hearing things about once I reach above £1000 in sales over a year, I'd need to file a self assesment. However, I feel that my collection overall would probably add up to around a 30% loss of what I initially bought everything for. I.e new games selling for 60 when new now go for around 20 when used. So i'm not really making a profit off this at all, I just want the money to help me with moving and trading in at stores etc would give me far far less. As it's purely personal, will I be able to sell off my collection or would I need to file a self assesment? If I do, I'd have to hold off as I haven't got receipts of games I purchased over a year ago etc. Selling everything will probably add up to 2-3k in total but I'd have easily spent more overall buying all of these things throughout the years.
Posted Tue, 19 Jul 2022 13:06:26 GMT by HMRC Admin 30
Hi,

If you are just selling your old stuff, you wouldn’t have to pay tax on any money you got from it, unless you’re drifting into areas covered by capital gains tax (personal possessions worth more than £6,000). 

Thank you.

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