Blackwell gpus

[TNA]

Also they don't take inflation into consideration. So you could have bought an expensive item years ago,and with inflation technically lost money on it,but it would be classed as a profit.

So you buy something say a computer for £2500 and then sell it on ebay some time later for £2000 and you are expected to pay tax? Isn't tax meant to be on profit? In the case above you made a loss and still have to pay tax?

 

[chaparral]

UK Gov for you, robbing thieving...

I just been reading about this here https://community.ebay.co.uk/t5/Ann...-digital-sales-reporting-to-HMRC/ba-p/7548575

If you sell possessions for more than you paid for them you may have to pay capital gains tax, but only if you exceed your annual allowance for such gains (currently £6,000). For more information on capital gains tax on personal possessions, see guidance from HMRC.

I Bet they wouldn't refund you any tax if you lost over £6,000 on something like a car, Boat etc

 

[TNA]

I just been reading about this here https://community.ebay.co.uk/t5/Ann...-digital-sales-reporting-to-HMRC/ba-p/7548575



I Bet they wouldn't refund you any tax if you lost over £6,000 on something like a car

Now THAT makes sense. Paying tax on profits. Nothing unusual there.

 

[Jay85]

Now THAT makes sense. Paying tax on profits. Nothing unusual there.

Yeah that makes more sense

 

[CAT-THE-FIFTH]

So you buy something say a computer for £2500 and then sell it on ebay some time later for £2000 and you are expected to pay tax? Isn't tax meant to be on profit? In the case above you made a loss and still have to pay tax?

It could be a turntable that was you bought for £2000 20 years ago which you sold for £2050 now, but is £4000 brand new. That £50 is classed as profit even though £2000 20 years ago is worth far more with inflation in 2024.

 

[TNA]

It could be a turntable that was you bought for £2000 20 years ago which you sold for £2050 now, but is £4000 brand new. That £50 is classed as profit even though £2000 20 years ago is worth far more with inflation in 2024.

Yeah. I don't think that will be having an impact on anything I sell

 

[BananaDunka]

Speaking of scalper pricing... Paul's Hardware has some thoughts: