Stephen Holmes
Registered User
- Messages
- 6
Hi there - a few years ago I purchased an internet domain name for email and website purposes (a private purchase, not affiliated with a company, so I paid VAT etc). I've been approached recently by a company who'd like to purchase this domain name from me.
If I sell this on at a profit, am I liable for tax? How would this work? Is it treated as supplementary income (i.e., on a Form 11) or can I just receive cash and smile as I lodge it in a bank?
If I sell this on at a profit, am I liable for tax? How would this work? Is it treated as supplementary income (i.e., on a Form 11) or can I just receive cash and smile as I lodge it in a bank?