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Posted Wed, 01 Nov 2023 21:19:31 GMT by Klaudia Dobrzycka
Hello, I sold my car for less than £2,000- do I need to include the whole sum as other/miscellaneous income or is there a part of that sum that I do not need to pay tax on? Many thanks for your advice. Kind regards
Posted Thu, 02 Nov 2023 16:38:30 GMT by HMRC Admin 20 Response
Hi Klaudia Dobrzycka,
If the car is not related to your self employment no.
If it is for self employment please refer to Claim capital allowances Business cars
Thank you.
Posted Sat, 04 Nov 2023 16:56:16 GMT by Klaudia Dobrzycka
Hello, Thank you for your quick reply. Do I need to declare money earned from selling a personal car anywhere or on a different form? Maybe I am not using self-assessment correctly- now I only have one employer and I do self assessment to adjust for professional subscriptions, money given to Gift Aid charities, interests from bank accounts, etc, as this changes every year so I need to adjust the amount of tax yearly- should I be using a different form? Thank you for your advice. Kind regards
Posted Wed, 08 Nov 2023 18:29:04 GMT by HMRC Admin 25 Response
Hi Klaudia Dobrzycka
You usually, don't need to pay Capital Gainst Tax on the disposal of your car, unless you've used it for business.
Have a look here for some more information:
Capital Gains Tax on personal possessions
Thank you. 
Posted Fri, 10 Nov 2023 13:47:53 GMT by Klaudia Dobrzycka
Thank you for the reply. This was my personal car but I occasionally used it for work and claim mileage for the work related travel. I have have business car insurance. The price was less than £2,000- do I need to declare it because I've been occasionally using it for work?
Posted Mon, 13 Nov 2023 12:24:23 GMT by HMRC Admin 17 Response

Hi,
 
No, you do not need to declare it  .

Thank you . 

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