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Selling some stuff - need advice on tax?

BenChaningBenChaning Member New Car Smell
Hi! I'm going to be selling a load of spare things (older pc hardware, games, console stuff etc) soon, however I'm a bit confused about income tax in the UK - will the money I get from selling these count as taxable income? I read online in multiple places it does, but can't really find anything about it, so hoping that at least someone here will have better knowledge about tax that I do. Was previously looking at tax calculators like this one and found that this tax year I'm going to earn a tiny amount under the personal allowance amount here in the UK - so little selling this stuff would put me over the limit. Do I need to worry about this? Hope someone knows this better than I do :)


  • HughesyHughesy Member Champion
    edited March 2018
    Not that I know of. I've sold loads of stuff, so you should be fine. You've already paid tax on them when you bought them.
    Post edited by Hughesy on
  • dextericdexteric Member New Car Smell
    Like Hughesy said, you've already paid tax on them in the form of VAT. 

    You would only pay tax on them if you were selling as a business. which I assume you aren't, at that point you could use this tax tool to figure out what tax you would pay.

    Cheers :)
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