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RE: do i need to pay tax on selling collectables coins?
Hi. Thank you for your reply. So basically, i dont have to pay tax on selling legal tenders coins, is that right? For instance, if i get a 50p coin for its face vaule and i sell it for 5 pounds, i dont have to pay tax on it, is that correct? Hoe about coins that are no longer legal tender? Do i need to pay tax on it when i sell them? -
do i need to pay tax on selling collectables coins?
i have been buying uk coins for my collection a year and a half ago since i have moved to the uk. i have spent roughly 6000 pounds on it. i bought coins purely for personal enjoyment, as i really like the felling of owing something old . Recently, i have decided to sell my personal coin collection, as i need to pay my uni tution fee. Do i need to pay tax if i sale them on ebay. i have made roughly 700 pounds rn and whehther i need to register as self empolyed. i am currently a full- time student.