Ebay selling old hobby items, trade or non-trade?
Good day to you all,
Since I was 13 I have been playing and collecting Warhammer figurines and have built up quite the collection over the past few years. However, times have moved on and I am in the process of selling them on ebay, and sensibly enough I am hoping to make as much money as possible from them. I am, and will be, making a lot of auctions on eBay rather than selling them as a job lot.
I have been looking at the badges of trade on this and I am not really sure as to whether or not I will be needing to report this trading on my tax return for 5/4/2012.
Could you good fellows please give me some advice on this? Also, if this is to be taxed then I will obviously need to 'expense' my items that I am selling and considering this has been a long time and I don't have the receipts for any of them, what should one do with these?
A confused accountant....
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