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Posted by geoff the bonnie on March 14, 2025, 10:30 pm

Yet another change going on. If you sell quite a lot, meaning over 30 items in a year which appear to be new, they require your National insurance number to forward to HMRC. Once i have sold what i have in stock, i am not going to sell any more parts. It was a bit of a hobby and been selling for 20 years but i can live without the tax man coming knocking.
Selling old rubbish from your house and clothes etc will be OK and not taxable

Re: ebay

Posted by Will on March 14, 2025, 11:51 pm, in reply to "ebay"

It was quite a few years ago that the taxman realized there were individuals with businesses operating on Ebay that were not paying tax.

Its sadly typical that its taken so long for the tax bureaucrats to catch up & act.

As Geoff says people selling "old rubbish" don't need to worry unless they are doing a substantial volume of sales generating significant taxable profit.

Re: ebay

Posted by Lannis on March 15, 2025, 1:28 am, in reply to "ebay"

Under our tax law, any time that you buy something, and then sell it for a higher price, you are supposed to declare that "profit" on your tax return and pay income tax on it.

Supposed to. I don't know anyone that does it. That social contract is sort of broken.

Currently the Washington DC corruption monster is being "wormed", so once that's done it might change things ....

Lannis

I don't take health advice from people who think the world is overpopulated.

Re: ebay

Posted by geoff the bonnie on March 15, 2025, 8:41 am, in reply to "Re: ebay"

Most things are taxed here including the pensions if you go over about 12,500 pounds. Its not nice when the pension, including my private pension does not come close to the minimum wage level if working.
I am lucky i made early provision for retirement in buying a house when aged 20 and saving. I live comfortably due to thinking ahead. My ebay profit is very low and i donate 10 percent of some sales to a charity, together for short lives and red cross.
I suppose i have diddled the inland revenue a little by selling parts so going to stop it all soon

Re: taxing pensions

Posted by Stuart on March 15, 2025, 11:01 am, in reply to "Re: ebay"

Hi Geoff,

>Most things are taxed here including the pensions if you go over about 12,500 pounds. Its not nice when the pension, including my private pension does not come close to the minimum wage level if working.
>i made early provision for retirement in buying a house when aged 20 and saving. I live comfortably due to thinking ahead.

Are you signed up to Silver Voices?

Best,

Re: taxing pensions

Posted by geoff the bonnie on March 15, 2025, 11:12 am, in reply to "Re: taxing pensions"

I dont join in many organisations Stuart but do tend to read up on various things affecting incomes.
I suppose i pay about 120 pounds a Month tax. What is a good benefit is to buy National savings bonds with tax free prizes. I earn more money on them than on my tax free ISAs. Normally around 4 to 5 percent in prize money for the amount i have which is 50k.Win a few payments every month and just last month 600 pounds came in.
When i worked, one of the high paid administrators told me she would love to pay high tax. Her reason being, it meant she earned a lot of money. Good theory that.
Now then, what happened to my Winter fuel allowance ? Well, i turned the heating off and went to where the sun shined brighter

Re: taxing pensions

Posted by Lannis on March 15, 2025, 12:26 pm, in reply to "Re: taxing pensions"

Getting ready to "do my taxes".

My income is 40% corporate pension, 35% Social Security, and 25% annuity from my own savings. All taxable, although the current administration wants to end the Social Security tax which would be nice.

Our State VAT is 5.5% on anything you buy, $.60 per gallon on gasoline, and 5% on income, so the state of Virginia gets about 12% of what I make.

I'm in the 12% bracket for Federal income tax.

So they get about 24% of what I make each year.

That might get better as the vast amount of corruption and mismanagement that's being discovered and purged disappears, but we'll see.

Lannis

I don't take health advice from people who think the world is overpopulated.

Re: taxing pensions

Posted by Stuart on March 15, 2025, 3:10 pm, in reply to "Re: taxing pensions"

Hi Geoff,

>I dont join in many organisations

Silver Voices, £8/year. Guy who started it - Dennis Reed - is a very effective campaigner, has prompted articles in several national newspapers on several subjects that affect pensioners, some editors have invited him to write articles.

Just sayin' ...

Re: ebay

Posted by Andy C on March 15, 2025, 9:02 am, in reply to "ebay"

Think HMRC would bring in a lot more if they concentrated on the very wealthy institutes / people that activley seek to avoid paying tax in the UK.

E bay is not going to bother as I dont sell that much on it.

Who needs a signature anyway......

Re: ebay

Posted by Olivefritz on March 15, 2025, 10:18 am, in reply to "Re: ebay"

''people that activley seek to avoid paying tax in the UK.'' .......that is not illegal though . You would do the same .

Re: ebay

Posted by Andy C on March 15, 2025, 10:50 am, in reply to "Re: ebay"

OK - Closing the loopholes that make it "legal" to avoid paying tax in the UK.

Been looking at how we can make sure our Daughter gets maximum benefit from our savings / properties when we fall off the perch, seems to be every way you turn the taxman takes a substantial sum, not found any "legal" way around it so far.

Who needs a signature anyway......

Re: ebay

Posted by nek on March 15, 2025, 10:53 am, in reply to "Re: ebay"

shakespeare had the answer....

'first we kill all the lawyers'

Re: ebay

Posted by geoff the bonnie on March 15, 2025, 11:04 am, in reply to "Re: ebay"

Andy, we paid no taxes when my Mum died when selling her property at £210,000 back in 2017. As for savings, if you have a little too much, start giving it away as i am doing. I give regular handouts and they just have holidays and buy cars with it. Much better to see them using this cash while they are youngish.
Take cash from savings in banknotes and just give it over. No trace left of where it has gone and if anyone asks, maybe you have a gambling problem and lost it.

Re: ebay

Posted by Olivefritz on March 15, 2025, 11:08 am, in reply to "Re: ebay"

''maybe you have a gambling problem and lost it.'' ......my excuse would be whores , gambling and vintage champagne in that order ......

Re: ebay

Posted by geoff the bonnie on March 15, 2025, 11:21 am, in reply to "Re: ebay"

My Brother manage to sell some properties and only paid tax on one which was the one sold at a lower price. He then removed the money from his bank before buying a house near Torquay. A bit later, he claimed Pension credits. At his funeral, they played the fools and horses theme tune.
In his working life, he got caught twice for avoiding tax and paid them largish lump sums. One was so large he had to sell one house to pay his bill.
The worst problem with house ownership is if one of a marriage goes into care then the other one dies. They order you to sell the house to fund the care.
My Uncle died in January in care for 3 years. His home bill was 2k a week and he had paid for it himself by selling his farmland and house in Cornwall. You certainly cannot take it with you. He has made some payment to my Sister in his will but waiting to see how much now. He did give to the Nieces but not Nephews as we had done better than the girls. He had told me that a lot was going to the RSPCA. It is a sum in millions as the farm is future building land.

Re: ebay

Posted by Tonupdave on March 15, 2025, 12:33 pm, in reply to "Re: ebay"

I'm lucky only government pension all money is done the old fashioned way it's stowed away where it can't be taxed I domake money from the premium bonds house no mortgage car bought outright never buy on the never never if I can't afford I don't buy my son and daughter are the same ...

Tonupdave..T.U.D.

Re: ebay

Posted by nek on March 15, 2025, 10:52 am, in reply to "Re: ebay"

Ebay is well above itself now,driving sellers away.

noticed you now pay a buyer safety fee? I just got a big slap for selling 'bladed' items, and told of a raft of dumbarse rules I have to set in place including specified couriers.
Oh,the bladed article I was selling? a snow plough blade and some spare blades for a garden tiller.
I tweaked the title a bit and sold it. wonder what happens to Fire Blade sellers?

meanwhile I can go on sites like milweb and have a choice of scary bladed items.

Seems to me ebay is dying a death,after 20yrs on it I'm well fed up. Back to the boot sales.

BTW was there not a ebay guru on here years ago? ebay eric I think, he had all the answers.

Re: ebay

Posted by geoff the bonnie on March 15, 2025, 10:57 am, in reply to "Re: ebay"

ebay eric died quite a few years ago.
Yes, the buyers now have to pay for buyer protection based on the item cost so now maybe Amazon all inclusive prices will be less.

Re: ebay

Posted by Tonupdave on March 15, 2025, 12:34 pm, in reply to "Re: ebay"

Easier to buy and sell on Facebook market place that's how the Volvo was sold

Tonupdave..T.U.D.

Re: ebay

Posted by nek on March 15, 2025, 1:34 pm, in reply to "Re: ebay"

trouble with face book is that the scammer/time waster element is much higher. But I have bought and sold on it via various forums.

Last year I offered for sale a huge lawn mower engine;facebook....will you post it to Poland? and Can I see it running? no mate its in a wheelbarrow. oh is it running then.
The internet does well in spreading stupid.

Re: ebay

Posted by nek on March 15, 2025, 1:29 pm, in reply to "Re: ebay"

have you noticed it taking longer to load a search while bloody ebay directs you to what it thinks you want,with USA top of searches I suspect because ill make more fees like that?

Re: ebay

Posted by Lannis on March 15, 2025, 1:41 pm, in reply to "Re: ebay"

All of the search engines do that, including the ones that are deceivingly called "AI".

They always show you the things they want to sell first, regardless of what you asked for. It's frustrating, but it's why their owners are literally billionaires.

Lannis

I don't take health advice from people who think the world is overpopulated.

Re: ebay

Posted by nek on March 15, 2025, 4:12 pm, in reply to "Re: ebay"

when I was at first on it Lannis, you could pick UK as default; which I did because once or twice I hit the buy button before checking. Back then it was a lot of fun.No longer.
I have an amount of personal and domestic stuff to sell,when It's all gone I will close the account.

Ebay management are the kind of people who would walk 5miles in the snow in tight boots to empty a childs money box if they thought they could gain tuppence.

Re: ebay

Posted by Andy C on March 15, 2025, 12:42 pm, in reply to "Re: ebay"

Yes, I did notice that "buyer safety fee" seems to have appeared.

Who needs a signature anyway......

Re: ebay

Posted by Lannis on March 15, 2025, 1:03 pm, in reply to "Re: ebay"

They don't need to "bring in a lot more".

They need to "spend a lot less".

"Tax The Rich" has never worked, anywhere. First, because they are better at shuffling it away from the tax man than a bunch of government drones are at finding it, and second because "The Rich" is anyone who has more than you do ... and it soon becomes you.

Lannis

I don't take health advice from people who think the world is overpopulated.

Re: ebay scammers

Posted by Brickboy on March 15, 2025, 6:17 pm, in reply to "Re: ebay"

I've also given up on the Bay and use DB marketplace. I thoroughly enjoy my chats with scammers like this one about a very old, slow bike...

Re: ebay

Posted by Olivefritz on March 15, 2025, 9:25 pm, in reply to "Re: ebay"

''The Rich" is anyone who has more than you do ... and it soon becomes you.'' ..........Bernie Sanders ''Tax the millionaires .. then when he became one himself ''Tax the billionaires''

Re: ebay

Posted by Lannis on March 15, 2025, 11:07 pm, in reply to "Re: ebay"

Exactly!

You must actually read something besides The Guardian! There's hope yet .....