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  • RE: Trading allowance question

    Hi Admin, To return to my original question, do I need to declare my sales of DVDs to HMRC, even though I'm not making any profit? I actually buy DVDs to watch, but then I need to sell them as they build up, and the money helps me fund the purchase of a different title to watch. Thank you.
  • RE: Trading allowance question

    Hello admin, If you dispose of a single asset or a collection of items for more than £6,000, you are required to declare it. Regarding one of your answers, if you I were to sell a collection in one sale for £6,000 or more, I would need to declare it. However, if I were selling items individually for less than £6,000 each (for example, £8 each), you do not need to declare this, even if the total amount you sell over the year or years adds up to £6,000 or more. Again, this not making a profit from these sales and are simply getting some of my money back. Thanks.
  • RE: Trading allowance question

    From my understanding and research, since I'm not buying items to sell for profit, I don't need to declare anything as I'm not making any profits from my personal items. I will also still have a £1000 trading allowance (that won't be affected by selling my DVDs non profit). If I am to sell a single Item over £6000 "profit or not", I need to declare it. Please correct me if I am wrong in my findings, admin.
  • RE: Trading allowance question

    Hi, I'm selling my dvds on ebay at a lower price than I originally bought years ago, and recently (no proof receipt ect) I watch lots of films and still buy and receive as gifts the odd couple! Im a bit of a horder so have around 3-5000 dvds most I have removed from the cases and are in folders as this saves space. charities wont take them and i dont want to take them the tip! I needed to get rid of some them and listed on ebay at least I could get some of my money back. Now I'm worried that I need to declare this because I have sold alot cheap within a month. Would I need to provide any evidence of receipt ect to prove I'm not making a profit or do hmrc just take my word as I don't have receipts.