Nobody likes thinking about tax, but HM Customs and Revenue has launched its e-marketplaces campaign to help people work out whether they are “trading” – and therefore whether they should be paying tax – when they sell items online. There’s also a video to help you decide.
If you realise that you’ve been trading for some time but haven’t told HMRC about it, you can take advantage of preferential terms, like only paying tax for the past six years and paying by instalments, if you tell them by tomorrow. For more information see their website.
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