10-01-2024 6:44 PM
some media outlets and miss informed people are spreading the word that the Tax man is after you ,no they are not, scare mongering is doing the job it self ,its nothing to worry about , the tax people only know what you tell them and as long as you are an honest seller and do your tax return from the details on your ebay then you have nothing to worry about the fear is far worse than the truth
09-02-2024 9:49 AM
... sentences? Surely, sentence's. Plus, missing caps, etc...
21-02-2024 10:49 PM
All well and good, but what of you're an older collector wanting to reduce your collection?
22-02-2024 7:29 AM
There are thresholds for sellers , 30 items or £1740. Ebay will send your details and if youre flagged then you put your case forward to HMRC, but lets be realistic, HMRC arent going to chase a pensioner who is selling off their postcard collection and exceeded the 30 total by selling them individually at a few pounds each unless it was clear that this individual had been making more than the £1740 a year and been doing it for years, as its the monetary value theyre interested in to tax not the quantity.
22-02-2024 11:34 AM
22-02-2024 12:57 PM
Forshplan said: "I thought eBay had more integrity."
You really don't know much about eBay and how it runs its operation, do you?! Integrity is way down on the list of adjectives they should legitimately use. LOL
22-02-2024 1:06 PM
Ebay and all other applicable online selling sites are compelled, by law, to report everyone who exceed these limits irrespective of the situation.
22-02-2024 1:18 PM
No I think you are really missing the point - This is not Ebays choice, they and all other platforms inc Etsy, Amazon, Just eat, deliveroo etc from 2024 are by law, required to send details form 2025 onwards of anyone who is earning more than £1740 (2K Euros)
It's just not the British way of doing things. What decade are you living in? Back handers and cash in hand deals from the 70s?
some people will be wrongly accused and their lives made a misery because of this. Hardly - Lets put this into perspective, HMRC are really not after a pensioner selling off his coin collection and they arent going to go after anyone really over but they will be going after those who are claiming benefits (and online selling etc) and those not declaring their income as Ebay (or whereever) as their side hustle.
I am sick of ppl sponging off the state, wouldnt we all like to have non taxable income and benefits!
If HMRC find these blaintant tax dodger and make their life hell (when they have had a years warning!) then thats their fault and no sympathy.
I thought eBay had more integrity. So you want Ebay to say no to the new law ?- Why not go away and read up about this then you can come back and make a sensible comment - heres some links
Reporting rules for digital platforms - GOV.UK (www.gov.uk)
Information regarding UK digital sales reporting t... - UK eBay Community
New HMRC tax rules set to impact online sellers - Accountancy Age
22-02-2024 1:56 PM
@forshplan wrote:
All well and good, but what of you're an older collector wanting to reduce your collection?
Then you get on with it, just as you would have done before this came up.
02-03-2024 12:51 PM
"tax evasion is not taken lightly" i think the rich and corporations like ebay, google, amazon will disagree with that. big players are not paying, thats why the numptys are going are tiny fish.
02-03-2024 12:52 PM
and how did you ckeck this private account???? 500 items a month really??
02-03-2024 12:56 PM
this isnt about tax, but spying! they even want companys to report what food your ordering and taxi's you order. whats this have to do with tax. agenda is to scrap cash, and have digital currency so they can check your every move. and have everyone on universal credit sytem. welcom to new china.
on 02-03-2024 12:57 PM - last edited on 20-03-2024 12:01 PM by kh-brendon
it will only have the right from this january. stop with the scare mongering bull
02-03-2024 12:58 PM
stop with the lies. otherwise provide proof.
02-03-2024 1:03 PM
i dont think information is automatically sent to HMRC there and then, but in january every year. as i seen message saying you have nothing to worry about until january 2025. im sure they wait till full year before sending.
02-03-2024 1:35 PM
Correct. The directive is very clear. Data collection starts from January 2024 triggered by threshold breach (30 sales or £1740) which will be sent to HMRC in January 2025.
It affects everyone that sells online, business or private sellers alike across most if not all online trading platforms.
What no one knows of course is what HMRC will do with that data.
02-03-2024 1:41 PM
all corporations sell data, and when caught they say they were hacked. data is gigantic money maker.
02-03-2024 1:44 PM
Which is why many won't be handing over their NiNo when requested by eBay.
02-03-2024 1:45 PM - edited 02-03-2024 1:46 PM
They will send your sales figures from January 2024 up to January 2025 to HMRC next January.
All sales you have already made since Jan 24 and any you make until next Jan will be declared by eBay to HMRC, who will contact all of those who are trading and ensure they are completing self assessment forms that match the figures eBay sent them.
If they owe tax, they will be asked to pay tax on their eBay sales
If they suspect fraud, they can then go back 6 years (and sometime up to 10 years) and examine previous sales that have taken place.
02-03-2024 1:48 PM
Interesting that you ended all your listings after you sold 27 items since January, on a "private" account....
If you sell 3 more items (on ANY account) your sales data will be declared to HMRC
02-03-2024 1:56 PM
@ali402363 wrote:this isnt about tax, but spying! they even want companys to report what food your ordering and taxi's you order. whats this have to do with tax. agenda is to scrap cash, and have digital currency so they can check your every move. and have everyone on universal credit sytem. welcom to new china.
That'll be the new tax that's being mooted for courgettes, red peppers, taxi journeys of over 3.5km and tin foil hats for 'the sky is falling' brigade.