Quote:
Originally Posted by xhunter
I know in the US we don’t have to pay income tax on money from selling items on eBay unless we make a profit on them (for example, bought a game for $30 and sold it for $40).
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In the UK you only have to do that if it's considered a business. In the UK you are allowed to buy something, 'enjoy it' and sell it on for profit provided it's not something done in a 'business model' way.
I looked into this recently because my son was going to boot fairs, buying up stuff and selling on eBay - he wanted to use my account but that might have been considered a supplemental income and therefore I would have to pay tax.