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Online sales platforms required to report seller earnings to HMRC

Posted 14/05/2024

From 01 January 2024, platforms such as Etsy, Vinted, eBay and even media platforms such as Instagram, were required to report seller earnings to HMRC.

Also, platforms which provide services such as Uber, Deliveroo and Airbnb, have to share their seller data as well.

This first full year of data does not need to be reported by the platforms to HMRC until January 2025, however, HMRC has already started checks on earners with the highest income.

This requirement for platforms to declare information is following the UK’s agreement to the OECD’s (Organisation for Economic Cooperation & Development) global data sharing objective to tackle worldwide tax evasion.

However, just because you may receive money from online platforms does not mean that you need to file a tax return.

For example, if your total income from trading or providing services online was less than £1,000 in any tax year, you are not required to inform HMRC or pay tax on any profits. (This is due to the Trading & Miscellaneous Income Allowance).

HMRC have provided an information sheet to offer guidance for selling online & paying taxes

This also includes a link to an online tool where you can check if you need to tell HMRC about additional income.

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