New UK tax rules - what counts as a 'sales transaction'?

[camcge55]

Hello everyone,

Under the new rules it says Ebay will pass on your info to HMRC if you complete more than 30 transactions. What exactly counts as a transaction?

For example, if I list an item and it fails to sell so I then relist it, does that count as one transaction or maybe even two transactions? Or does it have to actually sell to count as one of the 30?

Sorry this might be a silly question but I just want to be 100% clear.

Many thanks

[ile136yz]

A Transaction is when a sale has been made.

[papso22]

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@ile136yz wrote:

A Transaction is when a sale has been made.

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I would add that sale in this context includes payment and one that is not cancelled and refunded.

OP,  the point is that the data reflects money received by the member which may be earned income and hence subject to tax.  HMRC do not want listing information, or details of failed sales.

At the risk of being pedantic,  it's not a new tax rule, it's a new reporting rule, but connected to tax.

Of course with eBay's obvious misunderstanding of the rules it remains to be seen what they actually send HMRC next year!

[*vyolla*]

For residents of the UK, eBay is legally required to report both your sales transactions and certain personal or business information to His Majesty’s Revenue and Customs (HMRC). eBay will report this information should you meet either of the following thresholds within the calendar year:

• Your total sales on eBay is equal to or more than £1,740 after deducting fees and commissions or taxes
•  
• You complete 30 or more sales transactions on eBay (cancelled transactions are not included in the calculation)

Taken from:

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