Reporting changes /Universal Credit /Vinted

Coolsummer777

Good morning

I wonder if anyone can help? I claim Universal Credit (jointlywith my husband) and need to report changes. This is really worrying as I have started selling on Vinted past February. We have decided to sell our jewelleryand clothing etc that we bought over the years. Items sold came to nearly 14 k .All of the items were bought for more than we sold them for so we didn't make profit on them as such but this will be probably seen as income or savings? I have been using Vinted incomings to pay the bills, food etc ..just normal everyday expenses since we are struggling a bit . Should I close my claim now..not sure how to start with this .. . Should one of us register as self-employed in order to sell on Vinted ? I find this very confusing. We are both working part-time now due to kids and health issues. Would be very grateful for any advice.

Thankyou !

Kimi87

14k or 1.4k?

If you are selling personal items, and not buying to sell on then you aren't self employed. Money made will be seen as capital and not income.

Did the money in your joint accounts ever go over £6000?

Coolsummer777

Thank you for getting back. Yes it came to 14 k on Vinted (jointly for me and my husband) We have sold our weding rings and jewellry etc . I never had more than 6 k sitting in our bank as such as Vinted payouts were used to finance everyday living . I looked in my Vinted 'earned to date' section and it came to 9k and my husbands Vinted 3 k . I don't know where to start with this now ..

Coolsummer777

Thank you for getting back @Kimmy87

Yes it came to 14 k on Vinted (jointly for me and my husband) We have sold our wedding rings and jewellery etc . I never had more than 6 k sitting in our bank as such as Vinted payouts were used to finance everyday living . I looked in my Vinted 'earned to date' section and it came to 9k and my husbands Vinted 3 k . I don't know where to start with this now .. my fear is that It is more than 30 days to report the change and they will be analyzing my bank statements . Never thought about this properly as I never claimed any benefits before . Always worked full time .Our situtaion has changed significantly after we became a family of 5 and started to struggle

Morgan_Scope

Hello @Coolsummer777.

Capital only impacts your claim and needs to be reported when you have more than £6,000.

I don't know how Vinted works, but when you sell something, does the money get transferred straight to you or was the £14k sat in your vinted account for a time?

Coolsummer777

Thank you @Morgan_Scope they came in drips and drabs over the year . You get paid after you sell something and then you have to make a transfer from Vinted to your own bank . It was a way to make extra money but i now regret as I have sold nearly all of my valuable belongings and may be punised for it now :(

Morgan_Scope

Can I ask what has made you think you need to report this to UC @Coolsummer777?

Coolsummer777

@Morgan_Scope I had a call from them - it was just a review and thwey were asking about any changes and if I am receiving any money from other sources like insurance payouts etc and It made me think .. I did sayto them that I have been selling on Vinted and avery now and again I have some money coming from it . I wasn't really prepared at the time as every time I google it sas that if you sell your own items and not making profit on them …it is now seen as something bad . Anyway … I just worry that I should have been reporting all payments coming from Vinted throught the year … Thank you

Morgan_Scope

As long as the items you sold were your own possessions and not things you've bought to resell for profit, and at no time you have more than £6,000 in your vinted account, or bank accounts, or both combined, then this shouldn't be a problem and should have no impact on your UC @Coolsummer777.

Coolsummer777

Thank you for taking time to answer @Morgan_Scope that sounds right . I just worry that they will be notified by HMRC as Vinted has to inform HMRC if you sold more that 30 items or so ..all very confusing

poppy123456

https://forum.scope.org.uk/discussion/comment/963421#Comment_963421

That doesn't apply for personal items. It only applies if you're self employed.