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FORUMS General Gear Talk Changing Camera Brands 
Thread started 16 Jul 2018 (Monday) 07:47
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Want to restart camera 'collection'

 
trickedia
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Jul 16, 2018 07:47 |  #1

Hello! I'm looking at selling all ( fine... most ;) ) of my camera gear and starting from fresh again. I've been with Canon cameras for years and want something new. I think I'll go with either Fuji or Sony, they're the two brands I'm quite interested in atm. However firstly I need to build the funds to get them, and going to do that with savings & selling what I have now. My only concern is taxes on the sale of the Canon stuff, as I've heard some nightmare stories of eBay sellers and the like being hounded after by HMRC for unpaid tax/undeclared income. I've had a look through this wage calculator (external link) and with my tax band it's certainly not an insignificant amount of money to sacrifice. Should I be worrying or is it not worth the brainpower? Many thanks!




  
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Mbell1975
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Jul 22, 2018 01:52 |  #2
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trickedia wrote in post #18663842 (external link)
Hello! I'm looking at selling all ( fine... most ;) ) of my camera gear and starting from fresh again. I've been with Canon cameras for years and want something new. I think I'll go with either Fuji or Sony, they're the two brands I'm quite interested in atm. However firstly I need to build the funds to get them, and going to do that with savings & selling what I have now. My only concern is taxes on the sale of the Canon stuff, as I've heard some nightmare stories of eBay sellers and the like being hounded after by HMRC for unpaid tax/undeclared income. I've had a look through this wage calculator (external link) and with my tax band it's certainly not an insignificant amount of money to sacrifice. Should I be worrying or is it not worth the brainpower? Many thanks!

What do you think Fuji or Sony will give you that you can't get from Canon?




  
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john ­ crossley
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Jul 22, 2018 03:09 |  #3

trickedia wrote in post #18663842 (external link)
Hello! I'm looking at selling all ( fine... most ;) ) of my camera gear and starting from fresh again. I've been with Canon cameras for years and want something new. I think I'll go with either Fuji or Sony, they're the two brands I'm quite interested in atm. However firstly I need to build the funds to get them, and going to do that with savings & selling what I have now. My only concern is taxes on the sale of the Canon stuff, as I've heard some nightmare stories of eBay sellers and the like being hounded after by HMRC for unpaid tax/undeclared income. I've had a look through this wage calculator (external link) and with my tax band it's certainly not an insignificant amount of money to sacrifice. Should I be worrying or is it not worth the brainpower? Many thanks!

I think you would be better off asking HMRC.


Some days I'm the dog, some days I'm the lamppost.

  
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txsizzler
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Aug 02, 2018 08:52 |  #4

trickedia wrote in post #18663842 (external link)
Hello! I'm looking at selling all ( fine... most ;) ) of my camera gear and starting from fresh again. I've been with Canon cameras for years and want something new. I think I'll go with either Fuji or Sony, they're the two brands I'm quite interested in atm. However firstly I need to build the funds to get them, and going to do that with savings & selling what I have now. My only concern is taxes on the sale of the Canon stuff, as I've heard some nightmare stories of eBay sellers and the like being hounded after by HMRC for unpaid tax/undeclared income. I've had a look through this wage calculator (external link) and with my tax band it's certainly not an insignificant amount of money to sacrifice. Should I be worrying or is it not worth the brainpower? Many thanks!

It would appear that the HMRC is only identifying businesses and those individuals who buy for the sole intention of selling (in other words, mass quantities), as those that are going to be taxed. Private sellers that are selling unwanted, used goods should not be subjected to the tax. See here for more info:

https://community.ebay​.co.uk …YERS-FOR-TAX/td-p/4337256 (external link)

I would also study the HMRC info from their own site to learn more, but it certainly appears the OP has little to worry about.




  
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perfectwriteruk
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Aug 03, 2018 01:01 as a reply to  @ txsizzler's post |  #5

Nice topic! Interesting to read.


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Want to restart camera 'collection'
FORUMS General Gear Talk Changing Camera Brands 
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