Ebay traders targeted by Revenue
HMRC warns ebay traders of Christmas clampdown on untaxed earnings from online trading
Warnings have been issued that users of ebay could be targeted by tax
inspectors in the run-up to Christmas.
Tax advisers Chiltern claim HMRC is on a crusade to ensure unregistered
traders using the online auction site comply with tax law and pay their dues.
‘Many innocent individuals may not realise that what they thought was a hobby
is actually deemed to be a trade,’ said Chiltern’s Andrew Watt. ‘The same tax
rules apply to internet trading as to any other form of trading,’ a HMRC
statement said.