Borderlands 2 Ultimate Loot Chest Limited Edition & Deluxe Vault Hunter's Collector's Edition announced - Page 57

Wheeks · #**561** 06-02-2012, 02:05 PM

Technically, unless you are declaring your gains to the inland revenue (or equivalent) (or have no other source of income to bring you to the annual allowance), scalping is illegal. In that sense, it's not actually 'business'.

Also, in many countries the act of scalping is, itself, illegal (this tends to relate mostly to tickets and other "emergency" mandated supplies - but the principle is what is important).

There is a reason GAME and others are taking what can only be a moral stance on the issue (they sell the same volume of units either way).

No-one on this forum is going to rush out to perform a citizens arrest on a fellow forum member! But that said, it's probably better to just keep quiet about it rather than feel the need to justify what is a relatively unfair and unnecessary process which denies other collectors from joining in the fun.

I guess my point is - you are in the wrong place if you want to feel good about your scalping - I am sure there are forums for that!

It would even be better to start your own thread, rather than rubbing salt in the wounds of those who missed out.

(For the record, I secured my 1 copy, so this isn't just me being a misery about it

!)

Monstermug · #**562** 06-02-2012, 02:23 PM

There is no capital gains tax on sales of personal assets up to £6000. Which is the route most people will take.

I should know, I am an accountant.

Wheeks · #**563** 06-02-2012, 02:31 PM

Obviously it's income for income tax purposes - who on earth would suggest cgt applies to vg sales.

The word gain does not immediately imply a type of tax, particularly a nonsensical one!

nipperkipper · #**564** 06-02-2012, 02:48 PM

Quote:

Originally Posted by Monstermug

There is no capital gains tax on sales of personal assets up to £6000. Which is the route most people will take.

I should know, I am an accountant.

I thought the allowance was 10.6k?

Monstermug · #**565** 06-02-2012, 03:09 PM

10.6k is the yearly allowance for 2011/12 for items that ARE chargeable against CGT. £6,000 is not an allowance but the amount that sales of personal assets are exempt from CGT. Hope this helps.

nipperkipper · #**566** 06-02-2012, 03:15 PM

Quote:

Originally Posted by Monstermug

10.6k is the yearly allowance for 2011/12 for items that ARE chargeable against CGT. £6,000 is not an allowance but the amount that sales of personal assets are exempt from CGT. Hope this helps.

Thanks that makes sense now