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  • RE: Online Marketplace

    Hello, I have a question regarding buying and reselling. I understand that if I buy to resell (on ebay for instance) this counts as trading, and if grossing more than £1000 per tax year, it would need to be declared and subject to income tax, etc. My question is that I have items that appreciate in value over time (so are investments). If I buy an item and resell it a few years later on ebay for profit does this still count as trading (and subject to income tax like a sole trader/self-employed) or is it not considered trading and considered investing and treated as capital gains? Many thanks! Martin
  • RE: Cash gift tax implications

    Hi there, I am thinking of giving a friend a cash gift to pay off a mortgage. From what I understand there is no income tax or capital gains tax to pay. IHT would only be applicable if I die within the next 7 years. Is this the case? Many thanks.