Following on from the Xenon revelation that HMRC is tracking all eBay auctions and cataloguing them for future investigations HMRC launch a new guide for people that trade online. The aim of the guide is to help you decide if you need to register to pay tax – either Income Tax, VAT or Capital Gains Tax.
As well as the guide which is already live on the HMRC website advertising links will appear on websites countrywide to publicise the site. Although the guide is aimed at all those who may have an income from being self employed or as landlords the guide specifically asks if you are an e-trader and if you are selling on sites like eBay.
The guide also points out that money earned through affiliates schemes such as eBay and Commission Junction or Amazon Associates is taxable.
HMRC’s Director of Risk & Intelligence, Stuart Hartlib said: “In the new guidance, there are examples to help you work out if you have to pay tax when you sell items online. This site is designed to make registering and paying tax easier, so you can work out whether you are self-employed and need to file a return.”
