November 23, 2023
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Trading on digital platforms? – HMRC is watching!
Under new rules, from 1 January 2024, information will be sent to the tax authorities by those platforms.
The goods and services covered by the reporting requirement include accommodation, transport rental, personal services, and tangible goods. This includes Ebay, Etsy, AirBnB and Amazon among many others.
The information will be sent to the tax authority where the seller is resident.
No doubt many investigations will result where this side income (or even main income!) is not being declared!If this affects, you or anyone you know please get in touch. Voluntary disclosure carries far less penalties than being “found out”!
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