How much have you made from eBay?

mrsyardbroom

No it's not. If you are selling stuff you're clearing out and you get less than you paid for it originally then you have an income from it but you're not making a profit. You don't have to notify HMRC about every private sale unless you make a profit.

romylou_2

Hi there, I didn't want to read and run.

I've just listed my very first Ebay product for sale. Im new at this and have just put a book up for sale. I want to use this to de-clutter and do not expect to make huge profits. £200 to £300 sounds like a great start.

yonk

mrsyardbroom wrote: »

No it's not. If you are selling stuff you're clearing out and you get less than you paid for it originally then you have an income from it but you're not making a profit. You don't have to notify HMRC about every private sale unless you make a profit.

Yeah, but that's not what the poster advocating tax evasion is doing...sounds like they are a business.

mrsyardbroom

A business is a different matter. HMRC would be interested I'm sure.

lovinituk

This was posted on another forum (http://www.thewholesaleforums.co.uk/threads/online-sellers-offered-chance-to-settle-tax-bills.149021 ) by HMRC...

HMRC wrote:

If you’re selling online and haven’t paid all the tax you owe, you’re being offered the chance to come forward under the HM Revenue & Customs (HMRC) e-marketplaces campaign.

Under this time-limited opportunity, online marketplace traders can pay the tax, duties and interest they owe and benefit from lower penalties available, than those who wait for HMRC to catch up with them.

Who does it apply to?

The e-marketplaces campaign is for people who are trading online through an online marketplace, sometimes referred to as an online auction or online market to sell goods and services as a trade or as a business but aren't paying the right amount of tax and duties.

Those who only sell a few items and who are not traders are unlikely to be liable to pay tax on what they sell, and will not be targeted by this campaign.
How do I know if HMRC considers me to be trading?

You can find more information on whether HMRC considers you to be trading on the HMRC website at http://www.hmrc.gov.uk/campaigns/emarket.htm
There is also a video which explains whether buying and selling on an e-marketplace website can be seen as trading http://www.youtube.com/watch?v=uptdjVD2LgI
HMRC is also holding a Twitter Q&A on the e-marketplace campaign on 28 March between 3 and 4pm. Follow us @HMRCgovuk (http://twitter.com/#!/hmrcgovuk) and tag your question #emqa.

What does the campaign involve?

Online traders can come forward at any time between 14 March and 14 June to tell HMRC they want to take part. They then have until 14 September to give details of the tax and duties owed and arrange for full payment, including any interest and penalty due. If they make a full disclosure before 14 September, some will pay no penalty at all, with most receiving a penalty of no more than 10 per cent of the tax owed.

After that date HMRC will begin to contact those who have failed to respond. The department has recruited additional investigators and will pursue those who have failed to declare their earnings and pay up. Penalties of up to 100 per cent of the tax owed or even a criminal investigation could follow.

How do people take part in the campaign if they think they may need to make a disclosure?

To take part:
People must register with HMRC to “notify” that they plan to make a voluntary tax disclosure by 14 June.
Once they have done that, they have until 14 September to tell HMRC about tax due and make arrangements to pay any tax interest and penalties owed. This is called “making a disclosure”.

You can do you this by:
Completing an online notification form at: http://www.hmrc.gov.uk/campaigns/notify.htm
Or, by phoning HMRC on 0845 601 2944. A dedicated team is available to take your call.

Your feedback

We’re keen to have your questions and feedback on the campaign. We will read responses posted in this thread, however we cannot promise to reply to every post.

HMRC wrote:

HMRC is holding a second live Twitter chat on 16 May between 7 and 8pm to give online traders a further opportunity to ask questions. Follow @HMRCgovuk (http://twitter.com/#!/hmrcgovuk) and tag questions #emqa in advance or on the day.