Self Assessment for Vinted resellers: a step-by-step first-timer's guide

You crossed £1,000 of gross trading income — welcome to Self Assessment. It sounds bureaucratic; in reality it is one online registration, one annual return, and decent records in between.

1. Register (once)

Register as self-employed with HMRC by 5 October following the end of the tax year in which you started trading (tax years run 6 April to 5 April). You will get a UTR — your taxpayer reference — and access to file online. Registration itself costs nothing and does not commit you to anything except reporting.

2. Keep records that answer three questions

• What came in? Every sale: date, item, amount credited.
• What went out? Stock purchases, packaging, boosts, postage you paid, mileage to source stock.
• What is left? Unsold stock and its cost — your money is sitting in it.

HMRC does not want your shoebox of receipts every year — but it can ask, and you must be able to answer. A running log beats a January reconstruction every time.

3. What you can deduct

If you deduct actual expenses (instead of the £1,000 allowance), typical reseller deductions include: cost of stock sold, packaging, platform costs like boosts, postage you paid, a reasonable share of storage, and travel to source stock. Not deductible: the value of your own time, or clothes you bought to wear.

4. What you will actually pay

Income tax applies to your profits combined with your other income. If reselling is a side hustle next to a salary, your personal allowance is usually already used — expect basic-rate tax (20%) on reselling profits, plus Class 4 National Insurance above its threshold. A £3,000-profit side hustle therefore costs roughly £600-800 in tax — planned for, that is fine; discovered in January, it hurts.

5. The calendar that matters

• 5 October — deadline to register after your first trading tax year.
• 31 January — online filing deadline and payment deadline for the previous tax year.
• From April 2026 — Making Tax Digital starts pulling higher-income sole traders (over £50,000) into quarterly digital reporting. Most Vinted side hustles are far below this, but if you scale, it is on the horizon.

This article is general information, not tax advice. For your personal situation, check GOV.UK or speak to an accountant.