Neil Roberts

Hello Over the last 20 years or so I built up a rather large personal collection of CDs and vintage band t-shirts Due to a change in lifestyle and a need to generate some extra cash for the family, I sold these in batches as group lots on eBay over a 2 year period. In addition, I sold some other personal possessions such as books, a painting and other small items. In the tax year 23/24, this equated to around 350 items sold for a total of around £10k. It is hard to see exactly the final amounts which I received after eBay fees, postage costs etc. I do not consider myself to be trading in selling these items - none of these items were purchased for sale, but all came from my personal collection which I had built up over many years. Many of the items sold (of which 90% were CDs) were sold at a loss, given that the were purchased at £10-£15 each 10+ years ago and sold for an average of £6-£7 each. I am a higher rate taxpayer and all of my other income tax is paid through PAYE. My question is - am I correct that I don't need to complete a self-assessment in the circumstances? I have no untaxed income (and again, don't believe the amounts raised through these sales are taxable). Having merely sold personal items here (albeit a pretty high number of them), it doesn't seem right to me that I should have to pay 40% tax on the amounts generated as income. I am conscious that eBay and other platforms send sales data to HMRC and the volumes and amounts here would likely flag up as looking like trading income, even though I don't believe that it is such in the circumstances. Any guidance would be gratefully received. Thanks

My father-in-law is considering gifting three buy-to-let properties to his daughter (my wife). The CGT liability on the three properties will be considerable (c£400k) and as this is a gift for no consideration, my father-in-law will not have the means to pay the CGT liability in full within 60 days. Our understanding is that this scenario meets the requirements of TCGA92/S281 which allows him to elect to pay the liability in 10 annual installments. The criteria as set out in CG66452 appear to be met - a gift of land, no holdover relief available and so on. Are we correct that my father-in-law can simply elect in writing at the time of the CGT return to pay the liability in 10 equal annual installments and make a payment of 10% of the liability at that time, and that HMRC would only satisfy themselves that the disposal meets the requirements set out in the manual in order for him to qualify for this relief? In other words, HMRC would not apply any other eligibility criteria before accepting the payment in 10 annual installments, such as a means or affordability test? Many thanks We appreciate that interest will be payable annually, and if the properties are subsequently sold for value, the full amount will be due and so on