If I'm just selling as an individual do I need to worry about vat and tax? is there a profit threshold at all? Thanks
Just an individual selling a few things and was wondering if you could help me out with some advice on what is legally acceptable amount of money to make without worrying about tax and vat etc
If I'm just selling as an individual do I need to worry about vat and tax? is there a profit threshold at all? Thanks
Just an individual selling a few things and was wondering if you could help me out with some advice on what is legally acceptable amount of money to make without worrying about tax and vat etc
20 replies
Seller_esvgLzKXw2YAl
As long as you are just selling off a few or your own personal belongings, then it’s not an issue.
However, if you are buying things to sell, then you need to become self employed.
Amazon will stop you anyway, once you have sold £15k.
Seller_qZO3ZCjoBXEeL
The amount isn’t the issue unfortunately. At least not the main one you’ll face.
If we assume you are a UK resident, as @NEil said, from a taxation standpoint if you are just selling a few used, personal belongings then there is no taxation issue.
If you are buying goods with the intention of selling them then you are trading. Even if you have a day job, you are now also self-employed and making an additional living selling goods. At this point you should register with HMRC, obtain a UTR number (if you don’t already have one) and register as a sole trader with Amazon. You will have to pay tax on profits made when trading.
Again, as a UK resident, VAT is not going to be a consideration for you until you are selling £85,000/year. This is provided all your goods are dispatched from the UK (if you sell anything overseas).
Lastly from your perspective, I believe individual/private sellers (not the free/paid account distinction) have a lifetime sales limit of EUR15,000 then you will have to register as a business seller with Amazon.
Seller_DROodOAYHftnc
Yes, exactly as Neil says - as soon as you buy items/anything to sell on, even if from charity shops, carboot sales etc you are classed as trading and MUST register with HMRC and Amazon as a sole-trader business. It doesn’t matter how much or little you make, any income from sales must be declared and you will need to keep simple accounts and fill in a tax return.
This does not apply if you are simply selling off some of your own personal second-hand items, but be warned, that if you start listing several items as new, they will start to ask you for invoices and query your status.
You do not need to be VAT registered until your turnover is £85k, and then you would obviously be a business.
Seller_oPEw9rj5vWsYf
If you are only planning on selling a small amount there is a £1000 trading allowance which you don’t have to declare to HMRC so no need to register as self employed etc.
It is based on a gross £1000 so you are not allowed deduct any expenses or overhead from the figure. You also have to keep a record of the sales in case HMRC ever ask for it.
Seller_PNsJVX1S2Y8zN
Do I need to register with HMRC to sell what I want to know
I buying new stock and selling new products
Seller_PNsJVX1S2Y8zN
Thanks for help which documents does amazon want from me
And
how we pay the tax of the product we sell
Seller_f5cnodyVjLD4S
Can we stick to one thread now please? It’s making me dizzy! 
Seller_f5cnodyVjLD4S
The thread he started, the other one would be best imo…RACE you over there 
lol
