HMRC
HMRC's requirement for online marketplaces to share specific information is sparking curiosity about the implications for taxpayers. Let’s answer your concerns with some facts!
👉 Fact Check 1: Selling your possessions online doesn’t make you a trader. That is why there is no need to pay taxes.
👉 Fact Check 2: If you profit by selling goods, providing a service, or creating online content, then you are obligated to pay tax. But this doesn't apply when you are selling your personal possessions.
👉 Fact Check 3: #HMRC is asking online platforms to share information in order to prevent online businesses from undercutting traditional businesses by evading tax.
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