Hi all
Recently bought a '56 WRX, so decided to join you lot here
Got a question about tax I can't figure out. I work part time and earn just under the basic income tax band, however I sold my previous car for £4500.
According to this calculator it'll put me into the basic tax band. Will the sale count as income? Do I need to declare this to HMRC? Hoping someone here will know & can help me. Thanks in advance!
Rob