HM Revenue and Customs is urging people to check whether they need to fill in a self-assessment tax return
People who sell items on platforms like Vinted and eBay have been issued a warning about tax returns.
The gov.uk website states: "You must tell HMRC by 5 October if you need to complete a tax return and you have not sent one before. You could be fined if you do not." The rules around paying tax have not changed for sellers. But the new rules around information sharing will make it easier for HMRC to track down those who are not declaring their earnings and paying tax when they need to.
If you make less than £1,000, your earnings will be covered by the 'trading allowance', which entitles you to earn up to £1,000 tax-free without having to report the income to HMRC or pay any income tax on it.
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