Quote:
Originally Posted by Hugh
I would imagine it will be taken into consideration with anyone's earnings, and taxed accordingly - not sure if there is an exemption amount....
|
I think it qualifies as capital gains and, again I think, that you have a personal allowance equivalent to the income tax personal allowance before tax is applied.
People won't be filling tax returns on old stuff they sold off on eBay. I imagine the law would be looking at people doing full time trading via these services. That said if you're selling at a loss then it's not capital gains at all.