HMRC gained new powers in 2013 that allowed it to access credit and debit card data, but it has so far been unable to access data from the likes of Paypal, which is owned by Ebay and is used by more than 20 million people in the UK.
Users of online platforms like Ebay who sell items on an infrequent basis are on the whole unlikely to be considered as traders, but if trading is undertaken or proven, tax is due on profits made online in exactly the same way it is for other income.
It is thought that billions of pounds in tax is lost each year through unreported online income.
I have vast experience on dealing with those with undeclared online trading income and how it impinges on your tax and VAT liabilities
Call me on 0758470664 urgently if this affects you or someone you know who needs help.Share