Thousands of online sellers who use websites such as eBay, Etsy, Amazon and Gumtree to trade and make money are still under the watchful eye of HM Revenue & Customs.
Lindsay Henson Ltd has experience of this type of online trading from a tax perspective and can assist you in dealing with the taxman’s wrath if you are targeted.
Often after calculating the profit properly, there may be little tax to pay but in many cases it can give rise to not only a tax liability but to larger amounts of VAT assessable on the turnover.
Online websites have little choice in law but to hand over their customer account details to the taxman and HMRC can study your ebay feedback to easily estimate the extent of your activity.
Many thousands of letters have gone out and your first port of call should be to an adviser like Lindsay who can take away the strain and prepare the case for you quickly and cost effectively. A free call to her on 07584 706664 will give you comfort and save you time and money.
Large penalties can be avoided by a prompt and full disclosure through an experienced adviser to HMRC.
So trading in everything from DVD’s, clothes, books, and antiques, to electrical items and handmade crafts right through to garden sheds — you will not escape the Revenue’s scrutiny.
People who have to register their account as a “business seller” on websites such as eBay or Amazon are among the first nearly 15000 people targeted by their own admission of “Trading” and these letters must not be ignored!
What goes online stays online!