Is money from scrap taxable?

[WaterTight]

I'm sure it likely is. But seems funny as it's technically a gift...? But I suppose a gift to your business..

Never traded in any scrap before but got a big wedge of it to do next week

 

[Scott_D]

Yeah
Just treat it as an income from a job

 

[mfgs]

As above, yes it is taxable.

 

[SimonG]

That's why the scrap man doesn't pay cash anymore ☹

Wont be long until you have to declare how many cups of tea you are given a day.

 

[oz-plumber]

Depends on the scrappy.
Some will pay you a lot less for cash.

 

[Last Plumber]

I'm sure it likely is. But seems funny as it's technically a gift...? But I suppose a gift to your business..

Never traded in any scrap before but got a big wedge of it to do next week

Yes it is an income and has to be declared. You are selling it to the scrap yard.
You should (I may be wrong) also have a waste carriers license to take it to the yard. I believe that the fine for not having one has substantially risen recently.

 

[Scott_D]

Yes it is an income and has to be declared. You are selling it to the scrap yard.
You should (I may be wrong) also have a waste carriers license to take it to the yard. I believe that the fine for not having one has substantially risen recently.

I heard the same but I dont have one.

 

[SimonG]

I just applied for the free one via local council. Think it covers me for everything bar rubble.

 

[Ben-gee]

I didn’t know you could get it free! I had one I think it was 3 years for £150, then I found out no-one else seems to have one and I’m pretty sure it ran out a while back.

 

[MOSSEP]

get the apprentice to sign for it and bung em £20 for the effort!