sfnyc
Junior Member
🗨️ 1,119
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August 2017
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Banksy • Nola Print, by sfnyc on Dec 18, 2020 4:36:52 GMT 1, Someone launch a gofundme to buy Easy-Z a Nola print please?
Someone launch a gofundme to buy Easy-Z a Nola print please?
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esfer
New Member
🗨️ 364
👍🏻 303
November 2019
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Banksy • Nola Print, by esfer on Dec 21, 2020 11:01:32 GMT 1,
Thank you for your hard work. Nice of you to take your time to keep this piece available for others to view,in the original state...I actually prefer the original much to the printed version.
Thank you for your hard work. Nice of you to take your time to keep this piece available for others to view,in the original state...I actually prefer the original much to the printed version. |
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isbdellll
New Member
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👍🏻 31
October 2020
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Banksy • Nola Print, by isbdellll on Dec 21, 2020 12:12:54 GMT 1, Original owner, going to get a big tax bill 
Why would you have to pay tax on art? I have never paid tax on any art i have sold and i never will. Can you explain, thanks x
Original owner, going to get a big tax bill Why would you have to pay tax on art? I have never paid tax on any art i have sold and i never will. Can you explain, thanks x |
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Banksy • Nola Print, by Hubble Bubble on Dec 21, 2020 12:15:33 GMT 1, Original owner, going to get a big tax bill Why would you have to pay tax on art? I have never paid tax on any art i have sold and i never will. Can you explain, thanks x
Original owner, going to get a big tax bill Why would you have to pay tax on art? I have never paid tax on any art i have sold and i never will. Can you explain, thanks x Capital Gains tax based on the profit made on something if it exceeds the annual allowance |
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isbdellll
New Member
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October 2020
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Banksy • Nola Print, by isbdellll on Dec 21, 2020 12:20:38 GMT 1, Wow and its up to 12k only ! greedy. I would not declare it, I feel art collectors pay enough already considering vat / tax / shipping and of course many losses on art purchases anyway. 
Wow and its up to 12k only ! greedy. I would not declare it, I feel art collectors pay enough already considering vat / tax / shipping and of course many losses on art purchases anyway. |
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orchid
Junior Member
🗨️ 1,464
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May 2018
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Banksy • Nola Print, by orchid on Dec 21, 2020 12:26:32 GMT 1, Wow and its up to 12k only ! greedy. I would not declare it, I feel art collectors pay enough already considering vat / tax / shipping and of course many losses on art purchases anyway.
Hmrc will take interest in this if they see it. Woops!
Wow and its up to 12k only ! greedy. I would not declare it, I feel art collectors pay enough already considering vat / tax / shipping and of course many losses on art purchases anyway. Hmrc will take interest in this if they see it. Woops! |
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Winter
Junior Member
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March 2007
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Banksy • Nola Print, by Winter on Dec 21, 2020 12:28:11 GMT 1, If you complete a tax return you have to declare capital gains income.
If the tax man sees regular sales of art over a tax year and there is a clear pattern they may argue it’s income tax.
If you complete a tax return you have to declare capital gains income.
If the tax man sees regular sales of art over a tax year and there is a clear pattern they may argue it’s income tax.
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Gunny
Junior Member
🗨️ 1,605
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July 2012
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Banksy • Nola Print, by Gunny on Dec 21, 2020 12:29:25 GMT 1, If you complete a tax return you have to declare capital gains income. If the tax man sees regular sales of art over a tax year and there is a clear pattern they may argue it’s income tax.
If you complete a tax return you have to declare capital gains income. If the tax man sees regular sales of art over a tax year and there is a clear pattern they may argue it’s income tax. You are allowed one per year as long as you have kept the item for longer than a year, even if you sell art for a living |
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Gunny
Junior Member
🗨️ 1,605
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July 2012
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Banksy • Nola Print, by Gunny on Dec 21, 2020 12:30:07 GMT 1, If you complete a tax return you have to declare capital gains income. If the tax man sees regular sales of art over a tax year and there is a clear pattern they may argue it’s income tax. You are allowed one per year as long as you have kept the item for longer than a year, even if you sell art for a living
If you complete a tax return you have to declare capital gains income. If the tax man sees regular sales of art over a tax year and there is a clear pattern they may argue it’s income tax. You are allowed one per year as long as you have kept the item for longer than a year, even if you sell art for a living As long as it was bought with the intention not to sell.. |
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Winter
Junior Member
🗨️ 7,155
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March 2007
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Banksy • Nola Print, by Winter on Dec 21, 2020 12:31:58 GMT 1, Given the speed people turn art on here it would be hard to argue it was intended to be kept.
If people buy and flip 20 pieces of art over the year and make a tidy profit on each you’d be taking a risk trying to put it down as capital gains tax.
Given the speed people turn art on here it would be hard to argue it was intended to be kept.
If people buy and flip 20 pieces of art over the year and make a tidy profit on each you’d be taking a risk trying to put it down as capital gains tax.
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isbdellll
New Member
🗨️ 36
👍🏻 31
October 2020
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Banksy • Nola Print, by isbdellll on Dec 21, 2020 12:34:07 GMT 1, Oh so you can sell one item without paying the tax, better save that for my best sale.
Thanks for explaining x
Oh so you can sell one item without paying the tax, better save that for my best sale.
Thanks for explaining x
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25127096
New Member
🗨️ 570
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December 2013
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Gunny
Junior Member
🗨️ 1,605
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July 2012
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Banksy • Nola Print, by Gunny on Dec 21, 2020 12:41:16 GMT 1, Capitals gain tax is not all that bad and you just have to factor it in when deciding what you want for the item in question. The amount of CGT is based on your income tax level. For example, if you are a 20% tax payer, you will get your CGT allowance tax free (£12,300 for 2020/21), minus the cost of the item (£450 for Nola). Therefore, on a sale price of £150'000, capital gains tax will be due on £137,250.
The amount of CGT due will be £24'940 - net to seller therefore is £112'560 (+ £12'300 + £450) = £125'310
Capitals gain tax is not all that bad and you just have to factor it in when deciding what you want for the item in question. The amount of CGT is based on your income tax level. For example, if you are a 20% tax payer, you will get your CGT allowance tax free (£12,300 for 2020/21), minus the cost of the item (£450 for Nola). Therefore, on a sale price of £150'000, capital gains tax will be due on £137,250.
The amount of CGT due will be £24'940 - net to seller therefore is £112'560 (+ £12'300 + £450) = £125'310
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Banksy • Nola Print, by dukeofwybourne on Dec 21, 2020 12:43:25 GMT 1, If you complete a tax return you have to declare capital gains income. If the tax man sees regular sales of art over a tax year and there is a clear pattern they may argue it’s income tax. You are allowed one per year as long as you have kept the item for longer than a year, even if you sell art for a living
First I've heard about the one a year rule - do you have a link?
If you complete a tax return you have to declare capital gains income. If the tax man sees regular sales of art over a tax year and there is a clear pattern they may argue it’s income tax. You are allowed one per year as long as you have kept the item for longer than a year, even if you sell art for a living First I've heard about the one a year rule - do you have a link? |
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Gunny
Junior Member
🗨️ 1,605
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July 2012
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Banksy • Nola Print, by Gunny on Dec 21, 2020 12:44:57 GMT 1, You are allowed one per year as long as you have kept the item for longer than a year, even if you sell art for a living First I've heard about the one a year rule - do you have a link?
You are allowed one per year as long as you have kept the item for longer than a year, even if you sell art for a living First I've heard about the one a year rule - do you have a link? I don't, i was just told that as it takes you into another tax year and is easier to justify as a capital gain. If under a year they could argue you bought it to sell it... |
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Lazarus II
Junior Member
🗨️ 1,804
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August 2019
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Banksy • Nola Print, by Lazarus II on Dec 21, 2020 13:50:19 GMT 1, Oh so you can sell one item without paying the tax, better save that for my best sale. Thanks for explaining x
depends on the value of whatever you sell.
Oh so you can sell one item without paying the tax, better save that for my best sale. Thanks for explaining x depends on the value of whatever you sell. |
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Banksy • Nola Print, by Hubble Bubble on Dec 21, 2020 14:21:53 GMT 1, Oh so you can sell one item without paying the tax, better save that for my best sale. Thanks for explaining x
Oh so you can sell one item without paying the tax, better save that for my best sale. Thanks for explaining x No you can't. You pay CG tax on any art you sell if it makes you a profit of more than your allowance. You misunderstood what the poster was saying about professional art dealers and their ability to have one sale classed as Capital Gains rather than Income Tax. |
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njr911
Junior Member
🗨️ 2,381
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April 2007
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Banksy • Nola Print, by njr911 on Dec 21, 2020 15:20:18 GMT 1, Oh so you can sell one item without paying the tax, better save that for my best sale. Thanks for explaining x No you can't. You pay CG tax on any art you sell if it makes you a profit of more than your allowance. You misunderstood what the poster was saying about professional art dealers and their ability to have one sale classed as Capital Gains rather than Income Tax.
Oh so you can sell one item without paying the tax, better save that for my best sale. Thanks for explaining x No you can't. You pay CG tax on any art you sell if it makes you a profit of more than your allowance. You misunderstood what the poster was saying about professional art dealers and their ability to have one sale classed as Capital Gains rather than Income Tax. This - I think as a rule if you're selling £150 grands worth of anything it's worth paying for some tax advice as you bill could be well over £50k |
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milou2
New Member
🗨️ 76
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May 2010
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Banksy • Nola Print, by milou2 on Dec 21, 2020 15:52:20 GMT 1, No you can't. You pay CG tax on any art you sell if it makes you a profit of more than your allowance. You misunderstood what the poster was saying about professional art dealers and their ability to have one sale classed as Capital Gains rather than Income Tax. This - I think as a rule if you're selling £150 grands worth of anything it's worth paying for some tax advice as you bill could be well over £50k
To weigh in (possibly far too late to be of any use) but, based on my own experience, you pay Capital Gains tax (of 20%) on any increase in value (what you sold it for -/- your cost of purchase) above your personal allowance of £12,300 (for total sales p/tax year - not per individual item). So if, say, you sell X for £62,300 (for which you originally paid £10,000), you pay tax on £52,300 (profit) minus £12,300 allowance = £40,000 x 0.2 = £8,000.
This may also help: www.which.co.uk/money/tax/capital-gains-tax/capital-gains-tax-on-your-possessions-at7848p4xjtg
Happy hols (all is relative).
No you can't. You pay CG tax on any art you sell if it makes you a profit of more than your allowance. You misunderstood what the poster was saying about professional art dealers and their ability to have one sale classed as Capital Gains rather than Income Tax. This - I think as a rule if you're selling £150 grands worth of anything it's worth paying for some tax advice as you bill could be well over £50k To weigh in (possibly far too late to be of any use) but, based on my own experience, you pay Capital Gains tax (of 20%) on any increase in value (what you sold it for -/- your cost of purchase) above your personal allowance of £12,300 (for total sales p/tax year - not per individual item). So if, say, you sell X for £62,300 (for which you originally paid £10,000), you pay tax on £52,300 (profit) minus £12,300 allowance = £40,000 x 0.2 = £8,000. This may also help: www.which.co.uk/money/tax/capital-gains-tax/capital-gains-tax-on-your-possessions-at7848p4xjtgHappy hols (all is relative). |
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Banksy • Nola Print, by Hubble Bubble on Dec 21, 2020 17:30:41 GMT 1, Agreed.
Anyway... sorry, OP... there's a White Rain Nola for sale.
GLWTS.
Agreed.
Anyway... sorry, OP... there's a White Rain Nola for sale.
GLWTS.
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Dice
Junior Member
🗨️ 2,235
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October 2011
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Banksy • Nola Print, by Dice on Dec 21, 2020 17:38:28 GMT 1, Sell quick as rishi will be raising CGT soon to 45%
Sell quick as rishi will be raising CGT soon to 45%
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Banksy • Nola Print, by Hubble Bubble on Dec 21, 2020 19:06:26 GMT 1, Many a true word...
It will certainly go up, I think
Many a true word...
It will certainly go up, I think
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Banksy • Nola Print, by billybob1969 on Apr 2, 2021 13:20:21 GMT 1, Hi all
I’m looking for the above signed prints (not buying unsigned) I’m pragmatic on condition and will take on minor issues that don’t impact my enjoyment of the print. Can offer fast decisions, no hassle and references. Looking for a fair deal for both sides where hopefully two collectors can benefit from not having a gallery or auction house in the middle. Please PM me with your price and as much info as possible. I am happy to meet to collect the print if based around London or will arrange collection and shipping for those further afield. Will pay by bank transfer. Thanks in advance.
Hi all
I’m looking for the above signed prints (not buying unsigned) I’m pragmatic on condition and will take on minor issues that don’t impact my enjoyment of the print. Can offer fast decisions, no hassle and references. Looking for a fair deal for both sides where hopefully two collectors can benefit from not having a gallery or auction house in the middle. Please PM me with your price and as much info as possible. I am happy to meet to collect the print if based around London or will arrange collection and shipping for those further afield. Will pay by bank transfer. Thanks in advance.
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Banksy • Nola Print, by billybob1969 on Apr 3, 2021 15:26:56 GMT 1, Working on a Nola, will look at CYW as well. Still looking for the others.
Working on a Nola, will look at CYW as well. Still looking for the others.
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JFCC
New Member
🗨️ 390
👍🏻 394
May 2020
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Banksy • Nola Print, by JFCC on Apr 12, 2021 16:04:06 GMT 1, Hi Everyone - again!
I have now successfully agreed the purchase of a Kate but I am still looking for:
- Nola
- HMV (signed)
- Bomb Hugger (signed)
I will pay above hammer but below the auction all up price.
I have been offered 2 Nola's but sadly they are too expensive, but I am happy to keep looking. I still have not been offered a Bomb Hugger or HMV signed.
As a reminder I am UK based collector (not a dealer, gallery, agent or hiding behind multiple accounts) and now have a reasonably quick and efficient process that is a win win for both parties.
Please DM me if this works for you and have something to sell. I will also look at other signed prints and small canvases but the three above are my current most sought after.
Thanks for reading this and all the best to everyone!
Hi Everyone - again!
I have now successfully agreed the purchase of a Kate but I am still looking for:
- Nola
- HMV (signed)
- Bomb Hugger (signed)
I will pay above hammer but below the auction all up price.
I have been offered 2 Nola's but sadly they are too expensive, but I am happy to keep looking. I still have not been offered a Bomb Hugger or HMV signed.
As a reminder I am UK based collector (not a dealer, gallery, agent or hiding behind multiple accounts) and now have a reasonably quick and efficient process that is a win win for both parties.
Please DM me if this works for you and have something to sell. I will also look at other signed prints and small canvases but the three above are my current most sought after.
Thanks for reading this and all the best to everyone!
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esfer
New Member
🗨️ 364
👍🏻 303
November 2019
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Banksy • Nola Print, by esfer on Apr 12, 2021 16:36:03 GMT 1, I am not a seller of Banksy, sorry. I just wanted to say that your listing is very professional and seems to me a fair way to go about the purchasing of Banksy works, from the secondary sellers/ owners market. Good luck with your search.
I am not a seller of Banksy, sorry. I just wanted to say that your listing is very professional and seems to me a fair way to go about the purchasing of Banksy works, from the secondary sellers/ owners market. Good luck with your search.
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Banksy • Nola Print, by artforartssake on Apr 12, 2021 16:48:33 GMT 1, Feel safe dealing with this gent, bought my signed Gangsta from me January, smooth, no nonsense transaction.
Feel safe dealing with this gent, bought my signed Gangsta from me January, smooth, no nonsense transaction.
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JFCC
New Member
🗨️ 390
👍🏻 394
May 2020
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Banksy • Nola Print, by JFCC on Apr 12, 2021 17:15:45 GMT 1, Feel safe dealing with this gent, bought my signed Gangsta from me January, smooth, no nonsense transaction.
Feel safe dealing with this gent, bought my signed Gangsta from me January, smooth, no nonsense transaction. Thank you, it was a pleasure and a really good deal for us both! |
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vandamme
New Member
🗨️ 297
👍🏻 305
May 2019
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Banksy • Nola Print, by vandamme on Apr 12, 2021 19:32:29 GMT 1, Good luck on your quest, they are all decent prints. I can’t remember the last time I saw a signed hmv for sale.
Good luck on your quest, they are all decent prints. I can’t remember the last time I saw a signed hmv for sale.
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