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Gifted a Kindle Fire HD 10 but set on a new iPad... tax on selling the kindle?

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Offline shoody
03 Aug 2018, 11:40 AM | Post: #1

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Gifted a Kindle Fire HD 10 but set on a new iPad... tax on selling the kindle?

Hello! Smile 

Recently I was gifted a Kindle Fire HD 10 and it's quite different to the iPad Mini I've been using and I'm not sure I like it. I'm going to be returning it & buying a newer iPad with that money. I was wondering if I have to declare the money I get back from returning the Fire? I am self employed and declare my own income and don't want HMRC saying I didn't declare so-and-so. Should I be worrying or not? This salary tool I use says I'd pay something like £60-70 tax on it meaning I'm basically paying the entire price of the iPad anyway, so might as well stick with the little one I have now...
Thanks in advance for any help!
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Offline jobo
20 Aug 2018, 01:11 PM | Post: #2

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RE: Gifted a Kindle Fire HD 10 but set on a new iPad... tax on selling the kindle?

(03 Aug 2018 11:40 AM)shoody Wrote: Wrote:  Hello! Smile 

Recently I was gifted a Kindle Fire HD 10 and it's quite different to the iPad Mini I've been using and I'm not sure I like it. I'm going to be returning it & buying a newer iPad with that money. I was wondering if I have to declare the money I get back from returning the Fire? I am self employed and declare my own income and don't want HMRC saying I didn't declare so-and-so. Should I be worrying or not? This salary tool I use says I'd pay something like £60-70 tax on it meaning I'm basically paying the entire price of the iPad anyway, so might as well stick with the little one I have now...
Thanks in advance for any help!
No, no tax payable on modest personal gifts, the kibdl e or the refund money is a personal  gift, noT income,,,,, nb get an accountant it must be costing you a fortune, if your declaring birthday presents