Have you ever wondered about the tax implications of selling your personal belongings on ebay, I know that as student I would have used the site for every christmas present and cd I’d received as gifts for beer tokens!!
Well to put your mind at rest for less than £6,000 any profit you make is tax free and won’t eat into your £9,200 capital gains tax allowance. The items (chattels) include watches, clocks, coins (old ones), furniture, books (though try to do this at the end of term!!), silverware and ceramics. If any of you are still sitting at your desk reading this it does also extend to cars, lorries and motorbikes if they are purchased as an investment (private sale is always excempt).
Posted on November 4th, 2007 by Kate
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