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. 

[cassyinc]

So I've sold over 30 items this year but made nowhere near £1k and it's all personal items that I wanted to get rid of.  Does this mean that I ignore EBays request of providing my NI number or do I provide it anyway and know that I should be ok as I haven't made £1k?

[cobwebcottage]

You need to provide it if you want to continue to sell on Ebay.

You have nothing to worry about in relation to tax as you are only selling your own unwanted items.

[sml192]

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@cassyinc wrote:

So I've sold over 30 items this year but made nowhere near £1k and it's all personal items that I wanted to get rid of.  Does this mean that I ignore EBays request of providing my NI number or do I provide it anyway and know that I should be ok as I haven't made £1k?

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Ebay is legally required to report your sales when you reach either of the reporting thresholds (30 transactions or £1,740 approx. in value).  This has absolutely nothing to do with your tax obligations as an individual. 

The £1,000 trading allowance is only relevant if you are buying or making items to sell.  If you are only selling unwanted personal possessions then there will be no tax to pay however much you sell, unless you sell a single item/set for £6,000 or more. 

[cassyinc]

Thanks so much

[fitzwilliam3]

"CHECK IF YOU NEED TO TELL HMRC ABOUT ADDITIONAL INCOME"

Fill out a simple questionnaire here: https://www.gov.uk/check-additional-income-tax

“Personal possessions you sell for less than £6,000 are not subject to tax”