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Disclosing tax: act now with HMRC e-marketplaces campaign

- eCommerce

If you’re an eBay professional seller and think you might have outstanding unpaid taxes, you can contact HMRC before 14 June to let them know you intend to pay. You then need to disclose how much outstanding tax you are obliged to pay by 14 September, to avoid fines of up to 100% of the tax owed and a criminal investigation.

Marian Wilson, Head of HMRC Campaigns, explains,

“This campaign is aimed at people using online marketplaces to buy and sell goods as a trade or business and who failed to pay the tax owed. Those who sell a few items and who are not traders are unlikely to be liable to pay tax on what they sell and will not be targeted by this campaign."

At eBay, we are committed to providing a safe and fair marketplace for all buyers and sellers. So, we want to make sure you are aware  of your tax obligations and this opportunity. Data privacy is of paramount  importance to us – so you can be confident that  information will only be released to Government agencies if we have any  evidence of wrong doing.

You can visit the eMarkets Disclosure Facility website for more information. HMRC has also published a video to help you decide whether you are trading and a flow diagram to show whether you need to tell HMRC of your previously undisclosed income.

 You can notify HMRC by filling out the online form or by calling 0845 601 2944.      

HMRC will also be running a Twitter Q&A from 3-4pm on March 28 where you can ask  the department directly about the online trading campaign. Follow @HMRCgovuk for more details on making sure you are adhering to the law and to join in the conversation. 

Featured Seller - Cross boarder trading with London Magic Store

 

 

 

"Trading internationally is very straightforward. We have separate eBay accounts for different countries, which helps to keep it simple."

 

This month's featured seller is Dario Lopez, owner of London Magic Store, a UK based eBay store selling internationally.

 

Continue reading to get some tips fon how to sell internationally.

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