A taxable activity is an activity carried out continuously or regularly by a business, trade, manufacturer, professional, association or club. It includes any activity that supplies, or intends to supply, goods and services to someone else for a consideration (money, compensation, reward) but not necessarily for profit. We refer to these goods and services as “taxable supplies”.
Taxable activities don’t include:
- work for salary or wages
- being a company director
- hobbies or any private recreational pursuit
- private transactions such as the occasional sale of household or domestic items, or
- exempt supplies, such as:
- letting or renting a dwelling for use as a private home
- interest you receive
- donated goods and services sold by a non-profit body, and
- certain financial services.