everythingharmony
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RE: What counts towards £1000 tax free allowance?
Hi, They are digital goods so I'm not sure what they are classified as. I'm also not self employed - I am employed full time. I haven't exceeded £1000 from the sale of digital goods but if I include selling items on Vinted, Ebay etc (not for profit though) then I'd be over £1,000. Just not sure how it works and if HMRC would see the combined transactions and assume I've gone over -
What counts towards £1000 tax free allowance?
I'm employed full-time and have been earning a bit of extra money on the side selling online services. My earning from this have been about £940, so I'm just below the £1,000 trading allowance. I've also sold some items online (not really for profit, and only about 10-15 items) that would push me over £1,000 if they counted - but I'm not sure if they do? Is it best to declare what I've earned now, or do I not need to if I think I'm under the allowance? Is there a way to work out what my penalty would be if I was over?