Confused which month JANUARY OR APRIL and which year 2023 or 2024 or 2025 to report

[seedbankers]

Someone enlightens me please as ebay keeps mentioning January as start of financial year whilst UK starts with 5/6 April. And which year is ebay talking about 2023, 2024 or 2025? I have no idea and you phoned them up, they used AI to save money and kept looping the 4 irrelevant choices. Ask them on ebay facebook, NO help.  

[therenewalworkshopltd]

Try reading this, it tells you!

https://www.ebay.co.uk/help/account/regulatory/sales-reporting/uk-digital-sales-reporting?id=5454

[ruby*ryan]

Whilst the UK tax year starts April, this reporting started with a European thing so the reports will start in January.
The first year was January 2024, the second began January 2025. Of course, HMRC can go further back if they feel the need.

[papso22 · Accepted solution]

If you are posting about the reports to HMRC, then they cover a calendar year as that is what most of the participating countries use for tax purposes.

The reports start from 1st January 2024.  

[seedbankers]

Should I wait for HMRC to contact me or should I send them my data please? 

[therenewalworkshopltd]

Are you talking about Ebay sending your turnover etc, or about a tax return that you fill in?

Either way, the answer is in the above sentence.

[the-layer-laboratory]

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@seedbankers wrote:

Should I wait for HMRC to contact me or should I send them my data please? 

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You should be submitting your annual tax return to HMRC in the usual manner (2023/24 accounts should have been submitted by Jan 31 2025).

If HMRC require any additional information, they will get in touch with you to request it.

[moldosgifts]

Just to add you also need the correct account type on eBay to fully comply with all the laws

[moldosgifts]

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@moldosgifts wrote:

Just to add you also need the correct account type on eBay to fully comply with all the laws

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Was supposed to be for the op sorry

[hugothecockapoo]

Hello op...Surely HMRC have your tax details as you have being selling or trading since 2004?{assuming sales thresholds have being met} ...there will be nothing to worry about if all your previous  yearly sales do not add up to the required total needed to avoid filling in a tax return..

[moldosgifts]

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@hugothecockapoo wrote:

Hello op...Surely HMRC have your tax details as you have being selling or trading since 2004?{assuming sales thresholds have being met} ...there will be nothing to worry about if all your previous  yearly sales do not add up to the required total needed to avoid filling in a tax return..

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But still need to registered on the correct account as i doubt very much they collect all these seeds and just selling off an old collection the seeds would not be viable

[gemini-project]

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@seedbankers wrote:

Should I wait for HMRC to contact me or should I send them my data please? 

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Definitely do not wait if you should have been sending in tax returns, if your profit was less than £1000 in any tax year (April-April) you do not need to do a tax return.

I would give hmrc a ring for clarification, its got nothing to do with eaby and they can't help you with tax matters.

It looks like you should be on a business account and not on a private with your seed business even if you don't need to be paying any tax.

[papso22]

The £1,000 is not profit, it's turnover, I.e income before expenses are deducted.

[sebastian4ever]

Make an excel spreadsheet and enter every sale on it as you go along.  Then you can keep track of where you are.  If you approach an amount then delist and wait for next tax year to roll over.

Deduct any fees like postage, labels, packaging.

I find it easier than scrambling around in a panic before the deadline.

[papso22]

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@sebastian4ever wrote:

Make an excel spreadsheet and enter every sale on it as you go along.  Then you can keep track of where you are.  If you approach an amount then delist and wait for next tax year to roll over.

Deduct any fees like postage, labels, packaging.

I find it easier than scrambling around in a panic before the deadline.

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So you are trading?

[hugothecockapoo]

Hello sebastian4ever...great business advice... unfortunately It does look like you should be on a business account and not on a private with your business even if you don't need to be paying any tax.