HMRC

[User00047]

They (Google Amazon eBay ) are friends with the w@nkers in government that people willingly vote in to run our country.
They are all in cahoots….a bunch of scammers taking the **** out of the working man!

It would be jolly good if HMRC chased the larger tax dodgers like Google & Amazon... but I guess these corps employ folks more switched on and snappier than HMRC ....

 

[Jamouk]

 

[Sinistral]

Selling goods online? Be warned: HMRC will soon know about it

Whatever it is, from used clothes on Vinted, collectables on eBay, to Airbnb lets, profits will now be under scrutiny

www.theguardian.com

In case anyone has missed this, the critical change is collecting everyone's National Insurance Number for EVERYTHING. For the majority on PAYE it has always been simple for HMRC to reclaim unpaid tax. They can reset your tax coding to zero, or get your employer to tax you on a Week1 basis. An HMRC recalculation & adjustment is made every October. Due to the 5-year freeze on the Tax Free Personal Allowance (2021-2025), and the BOE increase in interest rates, over a third of savers who've never paid tax got tax demands last year.
The Chancellor has also beefed up the HMRC compliance section since the 2021 Autumn Statement, as he said he would.

 

[gerarddwatts]

All of this is why I refuse to fill in the paperwork at the shoots I go to...I'd rather go for nothing and enjoy the craic than fight the hoors over tax...

 

[tozzybum]

My father In law had a snotty threatening letter from HMRC for 2p one year .
It came 1st class post with a return envelope for the required cheque.
Unbelievable stupidity, spending ££££ to get 2 pence

 

[Rake Aboot]

They are absolute scum
I have no issue paying tax , we should all pay our share but the thieves taking huge chunks from my pension feels wrong.
I payed through the nose earning the money and am taxed even more living off it in retirement.

I’ve never thought about leaving the Country so seriously until this year and they have only made it worse with the new 45% bracket as well.

New house might have to at least be over the border, might save me a little bit ffs.

 

[Bo Diddley]

My father In law had a snotty threatening letter from HMRC for 2p one year .
It came 1st class post with a return envelope for the required cheque.
Unbelievable stupidity, spending ££££ to get 2 pence

I watched a film on the BBCiPlayer about the removal of the Norwegian gold reserves at the start of WW2 from the central bank to the ship sailing to England, it was a race against the Germans, and the Norwegian overseeing it had to log every case every time it was moved from a train carriage to a lorry or visa versa.... it seems a trait of the types, nit pickers....

 

[tozzybum]

They are absolute scum
I have no issue paying tax , we should all pay our share but the thieves taking huge chunks from my pension feels wrong.
I payed through the nose earning the money and am taxed even more living off it in retirement.

I’ve never thought about leaving the Country so seriously until this year and they have only made it worse with the new 45% bracket as well.

New house might have to at least be over the border, might save me a little bit ffs.

What the Scottish nazi Party are getting away with over taxes and lying about how they've blown it is beyond me.
How they keep getting elected beggars belief

 

[Smellydog]

Desperate times, knacked navy. Need new pick up boats for illegals masquerading as border patrol boats. Hotel costs for illegals.
The list is endless for useless ****. Like HS2 for instance, how many billions.
No wonder I don't vote. I my pants were on fire and I had to be saved by the UK government I'd rather jump in the nearest slurry pit!

 

[User00047]

No wonder I don't vote. I my pants were on fire and I had to be saved by the UK government I'd rather jump in the nearest slurry pit!

We’re already in a slurry pit !

 

[Dunwaters]

So, say I sold a gun, which I personally owned, for £2500…. The buyer pays by bank transfer. …How would I be taxed on this transaction?

What the heck is wrong with cash?

 

[mike308]

HMRC has access to your bank accounts and can check for payments going in.

 

[User00047]

What the heck is wrong with cash?

Buyer is probably other end of the country in many cases.

 

[Morkai]

HMRC has access to your bank accounts and can check for payments going in.

They dont really have the resources to go about it that way, that's why the e-commerce companies will now be sending the HMRC records of sellers that meet the threshold.

 

[angusb1]

Recently I've swapped venison for all sorts of things. It's a very liquid asset. They haven't got a hope in hell of tracking barter trades.

 

[mike308]

They dont really have the resources to go about it that way, that's why the e-commerce companies will now be sending the HMRC records of sellers that meet the threshold.

It doesn't take a lot of resources to check it's all done by computer which flags up anomalies. That's how they pick you for tax inspections if you run your own business.

 

[Ratel]

I had a letter from HMRC once telling me I underpaid them (on PAYE), the amount I owed them was a fraction of the cost to send a letter.

Just take the pence and go away.

Very similar, having gift aided various charities I received a letter saying I had gifted £8ore than I was allowed and I had to pay that to them.

 

[Swedish]

If its a personal item none of this applies. However If you sold it at a profit from the original purchase then its a capital gain and taxed as capital gain but can be relieved subject to annual cgt allowance (£6000 for 2023-24 tax year).

If you purchased it and sold it on with the intention of making a profit then it is taxed as income. And as self employed allowances on gross income over £1000 in any tax year you would be subject to a self assessment tax return you would be required to complete one.

Worth noting i’m not an accountant but this is my understanding of the rules which i believe to be correct.

This is my understanding of it too. Storm in a teacup. No tax due selling your personal stuff. Its designed to tax people that are basically running 'buy and sell' or 'make and sell' businesses without registering the businesses officially and paying any tax that may be due.

 

[Bo Diddley]

Recently I've swapped venison for all sorts of things. It's a very liquid asset. They haven't got a hope in hell of tracking barter trades.

Bartering is a difficult way to trade on some levels, that is how coinage came into being, it was easier to have a divisible currency to trade. How did they barter a whole cow.... maybe three sheep and six hens.... but if you didn't want three sheep and six hens you are buggered, but when you had gold coinage all of similar size you could then value everything individually.... but they soon started to undermine the value of the gold coins by "clipping" then another step was to have less pure gold... then it went to mixed metal coins that had a shiny golden finish... we have been duped for years... devaluation of our money.

Maybe bartering will make a comeback

 

[VSS]

Recently I've swapped venison for all sorts of things. It's a very liquid asset. They haven't got a hope in hell of tracking barter trades.

I don't know what you do for a living, but barter is a very common form of transaction in farming businesses. It has to be accounted for, just like any other kind of transaction. If it's not, questions will be asked. There's only so much you can get away with before alarm bells start to go off.