HMRC has begun accessing online selling data, raising concerns among UK residents using platforms like eBay, Etsy and Vinted. Those completing over 30 transactions annually or exceeding £1,700 in sales must comply with tax regulations.

“HMRC uses data provided by the platform to match against each individual’s tax records.”   Sellers earning more than £1,000 annually are advised to notify HMRC to avoid penalties.

It is worth considering taking out Tax Enquiry Fee Protection Insurance if you want to find out more about the benefits of this, read our blog – Protect Yourself Against Unexpected HMRC Tax Investigations 

Or you can contact us directly by calling 0115 928 3228 or by emailing info@coalesco.co.uk