Amritpal Phull
Joined: 8/17/2024
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Tax liability when a child is using my ebay account
My son (16 years old) has been using my ebay account (which I no longer use) to buy and sell clothing. He purchases items on ebay and from other sources using his bank account and then sells them on ebay. I transfer any sales proceeds from ebay back to his bank account without keeping anything. He has made approx. £8k profit in the last 12 months. Should he sign up for self assessment and declare this as he is expecting to earn more profit next year. Thanks