Do you have to declare to o Uc £700 pounds of seedling some stuff on eBay ?

Do you have to declare to o Uc £700 pounds of seedling some stuff on eBay ?

here's what I know:

if you sell your item, and you did not make a profit or you made a loss, that's fine, IF you can produce a receipt for the cost.

If you made a profit, that's income, so you have to report it. I see some people thinking that if it's 'infrequent' it's ok to just forget about it.....bad idea.

Be prepared to show the cost, if you made a profit, in the form of receipts. What I do when selling some of my items: if I can't produce a receipt that shows cost, because for example I bought the item ten years ago and who knows where's the receipt, then I declare the ENTIRE sum as profit, no matter that I paid for it.

Then no one can accuse me of fraud. If you are asked for receipts by either the DWP or HMRC and you haven't got them: bad idea.

281-189= 92

that's £ 92 of -profit- made.

Profit is income. Change of income is a change of circumstance.

Any income must be reported to UC, no matter if Chris has sold one item in one year, or whether or not he's technically 'self-employed'. As the DWP says: 'if you aren't sure, report the change anyways'.

It seems to me that many people are in a kind of 'denial'......'oh that's just a few tenners' 'a few hundreds' (!!).

I am always taking for granted that sooner or later UC - will - ask to see bank statements. Actually, I am surprised they haven't done it yet for the first two months of getting my UC, but I am not deluding myself and I like to be prepared.

Let's remember the possible consequences: possible investigation and prosecution for fraud, loss of benefits for up to 3 years, including housing benefit.

It's not worth it. Be open to disclose any relevant financial detail, be precise, and do not postpone it. And now it's super easy with the online system, the Journal and all that. I personally I am really impressed by it.

Gone are the days when I had to exhaust myself sending letters, getting proof of tracking, checking every day to see if the letter has been received. Or even phoning....I hate phoning, I never use my phone except to receive calls I can't miss.

I think you have it wrong. Chris pointed out that his purchases exceeded his sales. So it is not a
“Profit” but a “Loss”.
.