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