paulg100
Registered
a wonderful thing i learnt yesterday was about HMRC's super computer that monitors everyones financials.
Apparently it now monitors ebay, vimto, craigslist, payal and all sorts of other lovely things.
example: Ebay accounts with over £1700 of activity per year are flagged for tax collection purposes as its counted as trading and subject to tax even on second hand sales.
sounds lovely for selling high value items like pinball machines. tax on the money earned, taxed to buy the goods then taxed to sell them again second hand.
need to look into the exact details more but can the tax system get much worse in this country..
Apparently it now monitors ebay, vimto, craigslist, payal and all sorts of other lovely things.
example: Ebay accounts with over £1700 of activity per year are flagged for tax collection purposes as its counted as trading and subject to tax even on second hand sales.
sounds lovely for selling high value items like pinball machines. tax on the money earned, taxed to buy the goods then taxed to sell them again second hand.
need to look into the exact details more but can the tax system get much worse in this country..