From: neverwas on
> Incorrect. You pay tax on any gains. If you bought a watch for
> personal
> use for �300 and sold it later for �500 you would be liable for tax on
> the
> �200 difference. The chances are though that most things bought new
> and
> later sold are not likely to be sold for more than you paid for them.
>

Better make that a watch bought for �30,000 and sold for �50,000 given
the chattels limit. To quote from the SA helpsheet
http://www.hmrc.gov.uk/helpsheets/IR293.pdf

"You do not need to calculate any gain on the disposal of any single
chattel if the disposal proceeds did not exceed �6,000."

--
|Robin


From: Fran on

"John Rumm" <see.my.signature(a)nowhere.null> wrote in message
news:13q3q3osep2hoc2(a)corp.supernews.com...
> Fran wrote:
>
>> Palindrome said - rightly - that there is a maximum allowed as a mileage
>> expense before it is taxable. That maximum is forty pence per mile,
>> regardless of vehicle type. Over and above that, in theory, it is
>> taxable.
>
> In this circumstance however you are not charging for mileage at all, you
> are charging for delivery; which is a service you can price anyway you
> like - an element of the cost of providing this service is indeed the
> mileage cost, but what proportion of it is resultant from mileage will
> depend on how you price your time and any other costs to be met (packing
> materials etc).

If you're going to quote me, please don't snip context.

>
> The fact that you provided a mechanism to the buyer to allow them to pre
> compute the cost of delivery is not relevant.
>
> To the OP, I would suggest that your pricing would be likely interpreted
> by a buyer as a total cost for the round trip - so a delivery at distance
> of 15 miles would cost �15.
>

And please re-read the OP - the round trip was thirty miles.


From: The Older Gentleman on
Dave Liquorice <allsortsnotthisbit(a)howhill.com> wrote:

> If you bought a watch for personal
> use for �300 and sold it later for �500 you would be liable for tax on the
> �200 difference.

Utter nonsense.


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