Get the UKScrappers Habit.

Friday 5 - lovely together

by chrisrydal

My Yesteryears

by Mary Buttons

what a catch

by Maria in France

Encouraging Him

by scrapdolly

Zzzz someone sleeping

by Claire59

Donate with PayPal to help keep UKS online!

Go Back   UKScrappers > Forum > UKScrappers > General Scrapping


Charmed Cards & Crafts banner

Results 1 to 5 of 5
  1. #1
    New Member
    Join Date
    May 2018
    United Kingdom
    View Gallery

    Trader Rating: (0)
    Thanked 0 Times in 0 Posts

    Selling off spare craft equipment - tax question?

    Hi! Hope you're all doing well. Over the last few years I've been buying a lot of material, paper and just general bits and bobs that I really don't need. I was wondering if selling these would count as taxable income? (Not all are bought in the UK, and some are imported). This tax calculator says that I am quite close to the next tax band and don't particularly want to put my income under 40% tax. Hopefully a simple question with a simple answer, but i absolutely can't get my head around it!

    Thanks in advance

  2. #2
    Dedicated Scrapper Fae's Avatar
    Join Date
    May 2010
    View Gallery

    Trader Rating: (9)
    Thanked 0 Times in 0 Posts
    Hi - hopefully this link will help. - if you're worried, then perhaps you can defer selling some items until next financial year?

    Hope this helps.


  3. #3
    Dedicated Scrapper Amanda Jane's Avatar
    Join Date
    Oct 2011
    View Gallery

    Trader Rating: (0)
    Thanked 7 Times in 7 Posts
    I'm a bookkeeper and prepare a lot of tax returns each year. I don't think you have anything to worry about. This is presumably a one-off and you aren't trading, you didn't buy these things in order to sell them again and make a profit. Indeed, you will probably make a loss, in which case there is nothing to tax anyway. (HMRC would look to tax your profit, not your income, if you were trading.)

  4. #4
    Dedicated Scrapper
    Join Date
    Jan 2004
    View Gallery

    Trader Rating: (11)
    Thanked 45 Times in 41 Posts
    I do the odd car boot sale and was told if you are selling off your own possessions you are ok as far as tax is concerned

  5. #5
    Chatty papercrafter elainevking's Avatar
    Join Date
    Apr 2011
    Sevenoaks, Kent
    View Gallery

    Trader Rating: (15)
    Thanked 938 Times in 654 Posts
    Good advice Amanda. Thank you
    Reverse Canvas Swap: Christmas Stocking Swap
    Joint Hse leader

+ Post New Thread

Posting Permissions

  • You may not post new threads
  • You may not post replies
  • You may not post attachments
  • You may not edit your posts
Graphtec UK Papermaze Crafts 4 Eternity Memories & Photos Country View Crafts
Creating Art With Heart Foil Play That's Crafty!
Graphtec UK banner

Click HERE for additional Sponsors

All times are GMT +1. The time now is 07:03 AM.

The Library (& FOTW)
Blog Bits Archive
Facebook Page

Challenge & Class Links

Weekly: Team Challenge
House Challenge
Card Challenge
SNAP Photo Challenge
Simple Recipes
Project Life (& Printables)
Scrap Like You Mean It Reboot

Charmed Cards & Crafts sky

Latest Group Posts
Declutter Your Home
Declutter again in 2018
by Cris
07-09-2018 02:18 PM Go to last post
CRICUT Common Room
Cricut MINI
by spurs
07-05-2018 11:57 AM Go to last post
The Green Buttons' House
GB weekly challenge - April 2nd
by Crafty Lady
01-04-2018 04:19 PM Go to last post
The ADVENTurers 2017
Christmas day
by kimmie_35
07-01-2018 10:37 PM Go to last post
Come up and see my sketchings ...
September sketch
by janetlinda56
15-09-2017 09:06 PM Go to last post
The Chatty Scrappers
April 2017 points
by sylphraven
01-05-2017 11:09 AM Go to last post
View All Groups

Graphtec Sky