Summary
If you sell more than 30 items or make over £1,700 on platforms like Vinted, you must provide your National Insurance number due to reporting rules. This requirement is not about new taxes but part of efforts to monitor potential business activity. Most people who sell their personal items at a loss do not need to pay taxes.
Key Facts
- Vinted users selling over 30 items or making more than £1,700 must provide their National Insurance number.
- This information is required by UK law and part of digital platform reporting rules.
- The rule targets those running a business, not people selling their second-hand items at a loss.
- If a person makes more than £1,000 in profit per year from selling, they may need to pay tax.
- HMRC can identify business activities by looking for multiple listings or profitable resales.
- New reporting requirements started on January 1, 2024, to reduce tax evasion.
- Sellers must provide information to Vinted by the end of the year they reach the threshold.
- Selling an item for more than £6,000 may require paying Capital Gains Tax.
