Badgers of Internet trading

WILL SILSBY BA CTA takes a sideways look at the tax treatment of online auctions.

IT WAS MY own fault. Scanning through eBay just before going to sleep is never as relaxing as studying the Income Tax (Trading and Other Income) Act 2005 but I could not have envisaged the consequences.
'Mr and Mrs Line are here to see you' said the receptionist in that careful tone that implied so much more.
'Tell them I'll be down in a moment' I said. Of all the interruptions I could have done without on a Monday morning an unannounced visit from Mr Onedin Line came high on the list. On as he strangely chose to be known was a pleasant enough chap delightful company no doubt in a social context but rather loud and self-opinionated. He had never really been a regular client. Indeed...