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Am I liable for tax?

  • 03-11-2014 8:11pm
    #1
    danger_mouse_tm
    Registered Users, Registered Users 2 Posts: 992 ✭✭✭


    Hi,

    Recently I was approached by a shop owner in the town who knew I repaired computers and was asked if I was interested in buying 15 second hand laptops from a store that was closing down at €50 each. He gave me a list of the laptops, some of which were a little too old but there were a few that were just a couple of years old - all in good condition apparently. Not wanting to invest more than I could afford to lose, I told him that I would only be able to afford to take three and gave him €150 cash so he wouldn't be spending his own money. To cut a long story short, he avoided me like the plague for almost three weeks and only after threatening him with legal action he agreed to refund my money via paypal from his shop account. He put a note on the transaction that read " Payment for laptops".
    I don't believe that the laptops ever even existed - something about "if a deal is too good to be true..." comes to mind. However, the questions arise; must I declare his "payment" as earning next year and is he going to show that as a business expense when it comes to his tax return?


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