She sells christening cloths and baby goods and offers embriodary service is she liable for tax as she doesnt declare it to inland revenue.
2007-07-31 01:00:40 · 10 answers · asked by Anonymous in Business & Finance ➔ Taxes ➔ United Kingdom
If this was a short term thing, ie she will stop when she has run out of stock, she can probably get away with how.
However, its a permanent thing, then legaly she should declare herself as self employed and pay tax. She could get away with it for a while, but if she gets caught she could end up with a huge backdated tax bill and fines.
2007-07-31 01:05:47 · answer #1 · answered by Anonymous · 0⤊ 0⤋
Basically, buying goods to sell on eBay is no different to trading on the High Street from a shop.
Therefore, this is a taxable source of income.
Now whether her profits cover her annual personal allowances, currently £5,225, is another matter. If her TOTAL TAXABLE INCOME is below that figure, then there is no tax due but she should still inform HMRC that she is trading.
2007-07-31 02:07:06 · answer #2 · answered by Tax Chap 3 · 0⤊ 0⤋
That's her problem (or at least it soon will be:-) )
Inland Revenue will catch up with her sooner or later
FYI - they monitor newspaper small ads, car boot sales and auction sites (including eBay) and check out any name / address / phone number / car registration number that turns up on a regular basis
2007-07-31 04:15:15 · answer #3 · answered by Steve B 7 · 0⤊ 0⤋
This smacks of sour grapes to me? Its her life and your not now a part of it. The inland Revenue believe me will soon come down on her if she operates illegally, as they know all the scams. Time for you to move on. Good luck!
2007-07-31 01:21:57 · answer #4 · answered by hakuna matata 4 · 0⤊ 0⤋
I know your game - You are going to grass her up to the inland revenue as revenage - Naughty Naughty - But yes she needs to pay Tax!
2007-07-31 01:06:21 · answer #5 · answered by ¸¸.•*´`*♥Emma♥*´`*•.¸¸ 3 · 0⤊ 0⤋
Oh dear! Yes, she is liable to pay tax so if she doesn't declare it herself and they find out she will be in trouble!
2007-07-31 01:04:23 · answer #6 · answered by ChocLover 7 · 1⤊ 0⤋
Bitter, Yes I thinks so.
Against the Law, definantly.
2007-07-31 01:08:52 · answer #7 · answered by Melc 4 · 0⤊ 0⤋
YES it is income and must be declared and tax paid.
2007-07-31 01:09:53 · answer #8 · answered by Jan Luv 7 · 0⤊ 0⤋
Hi its HMRC here.
Just to let you know your wife has won a prize (something big shiney and expensive).
Let us know her address and we'll get it posted.
Cheers
HMRC
2007-07-31 13:17:36 · answer #9 · answered by Richard C 2 · 0⤊ 0⤋
Yes of course she is....
2007-07-31 01:14:39 · answer #10 · answered by eriverpipe 7 · 0⤊ 0⤋