HMRC Alert for Vinted and eBay Sellers: Avoid These Costly Tax Mistakes

Business Expert Warns About Tax Implications for Online Sellers

Source: Mirror UK

Declare Your Side Hustle Income

• Steph Buttery, a small business expert, emphasizes the importance of declaring income for side hustles on platforms like Etsy, eBay, Airbnb, TikTok, Depop, and Vinted.
• You must declare earnings of £1,000 or more by January 31 to avoid issues with HMRC.

Income Reporting Requirements

• eBay must report sales data if sellers list more than 30 items or earn over £1,700 annually.
• HMRC is aware of income from TikTok and will classify it as taxable income.

Regulations for Clothing Sales

• Platforms like Vinted and Depop also require reporting if combined earnings exceed £1,000.
• Rental income from services such as Airbnb is also monitored by HMRC, stressing the need for full disclosure.

Stay Informed and Compliant

• Buttery encourages individuals to remain updated on income regulations to ensure compliance with tax laws.
• Users can check additional income reporting obligations on the UK government’s website.