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Vinted and benefits

charlie79

Hello SCope warriors, I seek your advise. I have gone down from a size 18 and am currently a size 6 due to eating disorder.
Each size I dropped I bought clothes but only stayed each size for 2 months max. I have a section 21 which I'm waiting on for council and process.
I have a lot of clothes and no room need to declutter. So put on vinted.
If I sold some in bundles £5 here and there or a jumper for £2 . With new government measure cracking down. Would I get done by dwp .
Government will be taxing air soon . I have a flatulence problem due to meds and medical . Surprised they haven't a methane tax on that. Any adv8se greatly wrlcome

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Comments

66Mustang

No you would have nothing to worry about.

OverlyAnxious

The system will only be flagged if you earn over £1000 in a year from the sales.

Rosie_Scope

Hello @charlie79!

As far as I understand, the new plans to tax people on selling websites like Vinted are aimed at people who are making a business out of selling second hand things. As others have said, it's mostly if you earn over £1000 a year from it.

A few sales here and there shouldn't be a problem

66Mustang

OverlyAnxious said:

The system will only be flagged if you earn over £1000 in a year from the sales.

Is this from sales on any platform? And is it £1,000 combined across all platforms, or £1,000 per platform?

I sold a laptop for £800 on eBay several years back and other items on the same site in the same year, over £200 worth, and nothing happened.

Also previously sold a piece of jewellery for well over £1,000 (although well under £6,000 and my bank balance didn't exceed £6,000) and again nothing happened.

Rosie_Scope

I think officially you can earn up to £1000 tax free from selling things before you should technically be reporting it back to HMRC as self employed income. I'm no expert, but I'd imagine they're more interested in people who are selling things to make a regular income rather than just to get rid of various bits and bobs.

But from what I've read about these reselling platforms, it's around £1700 of sales or 30 items per year before they start to report anything to HMRC. All a bit confusing!

There's an article about it on the Martin Lewis website that might help to clear somethings up.

66Mustang

Just to clarify but by "earn" do they mean "profit" or "total sales"?

If someone sold something for £2,000 but they'd bought it for £1,500, does that counts as £500 earnings?

Or, if I sold a laptop for £800 that I'd paid £1000 for, I've in fact not earned anything?

66Mustang

woodbine said:

There is a lot of confusion on this subject but my take is that they are after traders on these platforms who are not declaring their earnings and paying tax (as they should).
Selling a few of you own bits and pieces has never been and never will be a problem.

This is my take on it as well.

However when I sold my item I received over the stated £1,700, no one told me anything about having to declare anything. Taking off the purchase price I only made a couple of hundred pounds "profit". That's why I was wondering which figure is the one that matters.

I think I will just forget about it as I didn't buy it with the intention of making a profit. I bought for personal use over a decade ago, before I went onto benefits, then decided I needed the money.

OverlyAnxious

66Mustang said:

Just to clarify but by "earn" do they mean "profit" or "total sales"?

If someone sold something for £2,000 but they'd bought it for £1,500, does that counts as £500 earnings?

Or, if I sold a laptop for £800 that I'd paid £1000 for, I've in fact not earned anything?

It's total sales across all platforms also including any selling fees and postage fees. Basically at £1000 the system gets flagged. At £1700 is where action my be taken.

This has only come into law at the beginning of this month.

In reality, most of us wouldn't have to pay tax anyway, as our incomes are already well below the income tax threshold. (Disability benefits like PIP aren't counted as income for this).