Thanks all. I've declined the return and hope that's the end of that.
On the tax point - I'm a chartered tax advisor.
If you're buying stuff to re-sell at a profit and are doing with any degree of regularity you're trading and should be assessed to income tax on your net profit. You're not subject to tax on the odd thing you sell here and there, especially if just getting rid of old stuff you bought for personal use.
Depending on what you're selling, and for how much, you might instead have a capital gain, but it doesn't apply to any 'machinery' ie watches, and only applies if the proceeds exceed £6k. Cars are specifically exempt from CGT.
On the tax point - I'm a chartered tax advisor.
If you're buying stuff to re-sell at a profit and are doing with any degree of regularity you're trading and should be assessed to income tax on your net profit. You're not subject to tax on the odd thing you sell here and there, especially if just getting rid of old stuff you bought for personal use.
Depending on what you're selling, and for how much, you might instead have a capital gain, but it doesn't apply to any 'machinery' ie watches, and only applies if the proceeds exceed £6k. Cars are specifically exempt from CGT.