Repairing iPhones and reselling - taxable income?

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Ewanc

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Joined
Jul 3, 2018
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Hi :)

I've been buying, repairing then reselling older iPhones (5-6s generations) and was wondering - should I be paying tax on these? Most of them are broken bought off eBay and then sold to a local repair store that will sell them themselves. Is the income, or all the money I get liable to income tax? How do I pay it if so? I only work part time so have a little bit yet until I hit the basic tax band according to this salary tax calculator, so I assume I'll be ok for now. Anyone got any good sites for me to have a look through in the mean time?

thanks in advance :)
 

TerryNet

Terry
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Mar 23, 2005
Messages
81,407
This site is for technical help, not legal or tax advice. You should probably consult a tax accountant.

FWIW, having volunteered for nine years with AARP's TaxAide service, I'm sure that the revenue is considered taxable income and the money you pay for them is considered a deductible business expense. But take that with the proverbial grain of salt. You may not even be in this country.

Closing, as we do not provide this type of advice.
 
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