Hello!
A couple of days ago I got a message on my eBay account that I need to provide my national insurance number because of my sales. After some research, apparently I have recently sold my 31st item this year, so I've triggered this check-up, apparently (I'm nowhere near the £1740 limit).
So I'm just wondering, what does this mean? I know eBay passes on some personal info to the HMRC, but will they see what I've been selling? Will they see my account and items for sale? Or do they check on my account and what I sell going forward? I don't mind them looking because my sales are all random bits and pieces (toys, films, ornaments, shoes, books etc...). I'm not a business, just a regular seller that just happens to have sold quite a lot of stuff this year.
Also, now I've triggered this with 31 items sold, what does that mean? Am I okay to continue? Will anything else happen if I reach the £1740 limit before the end of the year? (doubt I will). Everything resets after Dec 31st right? Then you start all over again? I am likely to get a tax bill for this?
I'm guessing the HMRC must be getting a lot of eBay referrals since this was introduced last year? Because I'm willing to bet lots of regular sellers are reaching these limits (especially the 30 item limit. Can't that be raised? Very low). All this with the recent new issuing of funds rules (need feedback or tracking), and eBay is becoming less and less appealing 😕
