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Gift folly
KEY POINTS
- Cliff-edge trader keeps her income below the VAT registration threshold.
- Separate online sales may push an unregistered business over the limit.
- Selling unwanted Christmas presents is unlikely to create a tax liability.
- Airbnb lettings may qualify for rent-a-room relief but may still be subject to VAT.
Holly looked in amazement at the pile of unwanted Christmas presents stored in her third bedroom. Clothes that were too big or small perfumes that were incompatible with her sensitive skin shoes that were too tight and would aggravate her bunions a £1 000 gift voucher from her parents to buy more clothes. She needed a strategy to dispose of these items because an empty bedroom was essential in 2018 for all of the bookings she had organised through Airbnb. This was the great...
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