An expert has warned online sellers to be wary when offloading their goods. There are a few things they need to know about how to do things legally
It's a simple way to earn some extra cash, and many Brits have taken to social media to share their financial triumphs on the app. However, an expert has cautioned online sellers to be vigilant when selling items online, particularly with regards to tax obligations.
HMRC is watching With most digital platforms, including Amazon, Etsy, eBay, Fiverr, Upwork, Uber, Airbnb, Vinted and Depop, feeding directly to HMRC, it's nearly impossible to hide your online earnings. But, if you make more than £1,000 from sales of non-personal items – in other words, things you’ve purchased with the intention of selling – each tax year, you need to declare it.
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