New car!

[jakes]

Hi! I'm looking to sell my current car and upgrade to something new. However I'm a little concerned about selling the old car - will i be paying income tax on it? I only work part time so earn very close to the personal allowance amount according to this tax calculator so selling it would push me right into taxable territory. Should I be worried about this at all? I don't have a clue how selling my car works as I've never done it before!

Slowly working towards that S15 dream car

[Actual_Ben_Taylor]

Proceeds from car sales aren't taxed.

Sell car, take money, be happy

[Jonny Wilkinson]

ABT is correct. Its not income unless you are buying and selling for a living....which you would have to declare as a sole trader/limited company if you were selling more than, say, 6-7 cars a year with a view to making a profit.

[Mark]

Bye Bye Spammer