HMRC data sharing

[charliestell]

Can someone confirm when they have stated "starting January 1st 2024" they will being to share all data with HMRC does that mean that all sales starting from Jan 1st 2024 will be shared in the new format? I know historically that they have shared data but is this new rule in relation to all sales from 1st Jan 24 or everything historically?

I'm not a master criminal or a huge fraudster I literally sell £200 - £300 a month on here so think I may be over this limit and fear a taxman letter. 

[Anonymous]

Not according to Ebay if your selling your old clothes you can sell upto
the limit where you would have to pay capital gains tax. That's straight
from ebay.
They sent everyone the same email, so I guess you missed it or didn't read
it.

[papso22]

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@jaws30342015 wrote:
Go.on correct me.i am.wrong

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Yes you are wrong, you are also guilty of scaremongering and spreading false information.  

[papso22]

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@2000appletree wrote:

Doesn't matter you selling your unused clothes from wardrobe or selling handmade Christmas cards if you excess £1000 British pounds a year you have to be business and registered as a sole trader.

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At least you are correctly registered. 

[jaws30342015]

Totally agree others won't not worth the risk. Many don't know the rule and
will be in for a shock if they are over a grand between Jan 24 -2025

[sml192]

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@Anonymous wrote:
Not according to Ebay if your selling your old clothes you can sell upto
the limit where you would have to pay capital gains tax. That's straight
from ebay.
They sent everyone the same email, so I guess you missed it or didn't read
it.

---

Capital Gains Tax only applies to individual sales that exceed the £3,000 limit, not a cumulative total. 

[sml192]

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@jaws30342015 wrote:
Totally agree others won't not worth the risk. Many don't know the rule and
will be in for a shock if they are over a grand between Jan 24 -2025

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Only if HMRC decide to class them as a business seller. 

[pausmyt_29]

If anyone has a business/, shop account not private then it will be
reported to hmrc

[sml192]

All accounts, private as well as business, will have their sales reported to HMRC if they reach either of the thresholds (30 items or £1,770 approx.). 

However, most private sellers shouldn't need to pay any tax as there have been no changes to the actual tax rules. 

[1956glyn]

I have a concern and we have seen this on the boards lately.

Some have posted saying they have hit the limits  and now need to change to a business account when clearly they are not a business.   Are Ebay going to try and force anyone who hits the 30 sales and over a grand limit into a business??

[papso22]

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@1956glyn wrote:

I have a concern and we have seen this on the boards lately.

Some have posted saying they have hit the limits  and now need to change to a business account when clearly they are not a business.   Are Ebay going to try and force anyone who hits the 30 sales and over a grand limit into a business??

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Those recent emails and posts are a concern.  We need to get some assurance from ebay that this is not the case, considering there is absolutely no legal justification for it under any laws or regulations. 

[kempseykate]

Re the emails about changing to business seller. Given that ebay CS were saying one thing and ebay community staff another, then it's the usual ebay mess up. Why can't the powers that be (if there are any) make a decision/rule, make sure ALL staff know the correct answer and a link to the correct info?

[*vyolla*]

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@2000appletree wrote:

Doesn't matter you selling your unused clothes from wardrobe or selling handmade Christmas cards if you excess £1000 British pounds a year you have to be business and registered as a sole trader.

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Absolute tosh.

Where on earth are you getting that from - FaceBook?

[stail-air]

It looks like.On Ebay it states £1000 a year. But on HMRC £1700 a year...I suggest a quick google search , From HMRC and ebay. Ebay will inform HMRC if your sales between January 2024 and December 2024 are either more than 30 items or about £1700 in value. HMRC will decide whether or not they need to contact you. 

[*vyolla*]

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@stail-air wrote:

It looks like.On Ebay it states £1000 a year. 

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Can you link to the eBay page you're getting that £1,000 figure from please?

I see that you're registered in Denmark, this is the UK site and your taxation rules may be different to ours. 

I don't need to do a Google search, I'm the one who wrote all of the news releases covering the new HMRC reporting for most of  the online consumer sites, so it's pretty safe to assume I know what I'm talking about here.

It's been explained loads of times now that eBay will pass on data to HMRC automatically if you're selling 30 or more items a year OR have total earnings over the equivalent of £1,740. eBay will automatically share this information with HMRC by 31 January 2025.

This eBay guidance page explains what's being reported and when:

https://www.ebay.co.uk/help/account/regulatory/uk-digital-sales-reporting?id=5454&st=3&pos=1&query=U...

There is a £1,000 Trading Allowance for small/hobby business sellers and I think that this is what you're getting confused about. They can sell £1000 worth of goods (gross sales, not profit) before having to declare this on a self assessment return. This is useful for those starting up or those not selling many items that they've bought or made to re-sell.

[stail-air]

Hello and yes you are correct. I searched after ebay and apparantly was reading HMRCs answer. In Denmark at the moment we do not need to register. Our allowance is about 6000 Pounds. If it is your own items. 

[tommystrezures]

That maybe so but Denmark is also one of the countries in the OECD. So if you sell more than 30 items or £1740 (depending on currency exchange rates), then ebay will have to report it to the Danish authorities too.

[stail-air]

P.S. Any money  being deposited in my bank account. Is considered suspicious. especially from abroad. The bank has to inform the inland revenue.  This and my my Ebay account being almost shadow banned. As i could use a day updating everything. Just to look a few days later saying it needed to be updated. So just stopped using Ebay. Then also Paypal.

[2000appletree]

So, trade according to your rules (from Facebook), but don't be surprised when a lady or a man from the tax office knocks on your door.Good bye 

[*vyolla*]

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@2000appletree wrote:

So, trade according to your rules (from Facebook), but don't be surprised when a lady or a man from the tax office knocks on your door.Good bye 

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You've directed this reply to me, but it makes absolutely no sense at all, I've no idea what you're responding to or trying to say here. 

What post are you responding to?

[frazer199310]

Well given today's announcement from Ebay advising that selling will now be free of fees, I trust that HMRC are recruiting a huge army of new staff to handle the enormous increase in number of accounts that will exceed the 30 items threshhold!