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HMRC Second Income Campaign - not so much a question as heads up

HMRC Second Income Campaign - not so much a...

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Just noticed a reference to the new Second Incomes Disclosure Campaign HERE

A quick skim down shows a reference to 5 & 19 year calculators. Those link to PDF's that step through the disclosure and calculate tax, interest and penalties (based on a rate you set). Interesting.

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By Sherman Holter
25th Apr 2014 15:44

Frequent not regular.

My client has a clear out annually and sells his stuff at a boot sale regularly, once every year, first Saturday in October, regular as clockwork.  Are HMRC interested in him? (Section 1:2 says "profits from buying and selling goods, for example regular market stalls, boot sales etc")

Why do HMRC (and many others) use the word regular when they mean frequent?

I've noticed this is becoming a regular thing (see what I did there?).

 

 

 

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By justsotax
25th Apr 2014 16:10

regular/frequent

(aren't they the same thing?!) - anyway in the circumstances you mention it is badges of trade your client needs to consider (of which frequency...or the term 'regular' is only one of the considerations...) 

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