HMRC Taking A Good Look At Savvy Online Sellers
HMRC's new data sharing initiative, which aligns with the OECD's global objective to tackle tax evasion, has been met with mixed reactions from online sellers ... It's crucial for online sellers to ensure that their income is accurately reported! While some see it as a necessary step towards ensuring fair taxation, others are concerned about the potential invasion of privacy and increased scrutiny from tax authorities. Under this initiative, online platforms such as Etsy, Vinted, eBay, and even social media platforms like Instagram and OnlyFans, are now required to collect sales and income information from their sellers and share it with HMRC. This means that any income earned through these platforms |
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