Well, basically, I've sold a couple of computers on eBay recently, a couple I made up from spare odds and sods I had lying about, a couple I made from ordering a few spare parts in. Obviously I'm making a bit of money from it.
Now, I'm generating quite a bit of interest in my computers, because they're reasonably priced, it's getting to the point where it's hard juggling it with my day job. What I want to know is, at what point do I stop being a private trader selling a few bits and pieces to becoming a proper trader who has to pay taxes on his profits?
I, like most people, don't particularly want to pay taxes, but I don't want to get stung by the Inland Revenue either. If business takes off, it's inevitable I will have to pay business taxes, but at what point?
2007-07-03
11:07:01
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12 answers
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asked by
GillsMan
3
in
Small Business