Hi !
I am a PhD student in robotics very close to completion. Due to various reasons, I had to spend half my savings building my own robot for my research. We are talking \~£15k. Now that I am close to finishing, I am wondering if its possible for me to sell it. All together or by parts. Since I am full-time employed – would I need to declare this sale in a self-assessment? Would I lose half the money to taxes?
8 comments
You didn’t make it with a view to selling at a profit. Its just a personal item you are selling because you no longer need it, so it should be exempt.
Machinery, and any other personal items with a ‘lifespan’ of less than 50 years is CGT exempt so no tax will be due.
Just don’t sell it to anyone named Miles Dyson
Is it a realistic life like female sex robot? Asking for a friend.
What are the capabilities of this robot?
£15k sounds very reasonable for the prototype for my ~~killer robot army~~ caring helper bots.
AskUK Questions that make you think you’re living in The Future #84.
I would check with someone about any intellectual property rights inherent in the design. If it was built for your research, the university will have a stake in at least the IP.
I just want to say- you are a cool dude.