I’ve been selling some personal bits n bobs recently on eBay, i am in iva

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sharon574
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by sharon574 » Tue Jan 09, 2018 12:12 pm
I’ve been selling some personal bits n bobs recently on eBay and also to a friend. Blu-rays/Steelbooks/unwanted Xmas gifts etc. I’ve also been selling some Xbox games and other toys on behalf of my son. The amounts are being paid into my PayPal account. Obviously not all the money is mine...some belongs to my son but it’s all been withdrawn to MY bank account. Do I need to declare this to my IVA person? It’s by no means a regular thing. Just something we’ve done after Christmas to get some extra money.
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Foggy
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by Foggy » Tue Jan 09, 2018 12:19 pm
As long as you are selling your own goods ( as far as everyone is concerned), rather than purchasing to resell at a profit, you will be OK and would not need to mention it. This, of course, assumes that we are talking about normal household items, and not the Picasso hanging in the downstairs loo :-)
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sharon574
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by sharon574 » Tue Jan 09, 2018 12:34 pm
Hi Foggy, Thanks for responding. I’ve also just received a reply from the company who is administering my IVA and they advised so long as it doesn’t go above £500, in one transaction, I don’t need to declare. Just thought it would be worth posting that in case it helps anyone else out.
Thanks again :D
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kallis3
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by kallis3 » Tue Jan 09, 2018 1:05 pm
As long as it's not a business you are ok. I sold lots of things over the course of my IVA.
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jonathah
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by jonathah » Tue Jan 09, 2018 10:02 pm
It might be a good idea to keep some kind of record - spreadsheet ideal - of what you are selling when and how much, as I presume the Paypal account will link to your bank and a curious IP (or HMRC!) might ask questions which are always best answered with evidence.
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kallis3
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by kallis3 » Tue Jan 09, 2018 11:14 pm
Paypal never linked to my bank account or HMRC - if it's just bits and bobs it doesn't matter.
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