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Flogging it

04 March 2014
Issue: 4442 / Categories: Forum & Feedback , Business , Income Tax

A pottery collector is expanding and improving his collection. Because of the limited space available, unwanted or inferior examples are sold to make room for more recent acquisitions

While idly watching a well-known television auction programme one evening I noticed that some of the participants appear to spend most of their time looking for bargains and then reselling them at auction.

That’s fine but given HMRC’s recent announcement that they would be obtaining details from organisations that keep some kind of register I wonder whether they should be concerned.

I suppose that I should now also express a personal interest. I collect a certain type of pottery which is kept on display at home. Obviously space is limited and my display cabinets are full

. However as I spot items of interest to me I will buy them and then sell less interesting or poorer examples from my collection. This tends to occur fairly regularly perhaps even several times a month as I visit surrounding towns auctions house clearance sales...

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