13/10/2026
๐ฆ๐ผ, ๐ง๐ผ๐บ'๐ ๐ฏ๐ฒ๐ฒ๐ป ๐๐ฒ๐น๐น๐ถ๐ป๐ด ๐ผ๐ณ๐ณ ๐ฏ๐ถ๐๐ ๐ผ๐ณ ๐ต๐ถ๐ '๐ต๐ฌ๐ ๐๐ฟ๐ฒ๐๐๐น๐ถ๐ป๐ด ๐ณ๐ถ๐ด๐๐ฟ๐ฒ ๐ฐ๐ผ๐น๐น๐ฒ๐ฐ๐๐ถ๐ผ๐ป... ๐๐ต๐ผ๐๐น๐ฑ ๐ต๐ฒ ๐ฏ๐ฒ ๐๐ผ๐ฟ๐ฟ๐ถ๐ฒ๐ฑ ๐ฎ๐ฏ๐ผ๐๐ ๐๐ ๐ฅ๐? ๐คผ
Tom has finally admitted the collection had outgrown the shelf space. Photo 1 is the main event. Photo 2 is the ones heading off to new homes via eBay and Vinted. It looks like a tag-team match that went badly wrong.
Naturally, his first thought wasn't "great, extra cash". It was "how would I explain this on a tax return?"
Online platforms now report seller details to HMRC once you make 30 or more sales in a year, or receive more than about ยฃ1,700. Lots of people have panicked about this, so here's the reassuring bit:
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Clearing out your own unwanted things usually isn't taxable. Selling your old jacket for less than you paid isn't a business.
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If you are trading, the first ยฃ1,000 of income a year is covered by the trading allowance.
โ ๏ธ Buying items to resell at a profit, or making things to sell, is likely to count as trading. Above ยฃ1,000, that needs declaring.
โ ๏ธ A single item (or set) selling for ยฃ6,000 or more can bring Capital Gains Tax into play. (Sadly, none of these figures are anywhere near that!)
Being reported to HMRC doesn't automatically mean you owe tax. It just means it's worth knowing which side of the line you're on.
Did you have any of these growing up? Which one was your favourite? ๐
Selling online and not sure where you stand? AskAbaqus, that's what we're here for.
