Not many people know that HMRC’s rules require platforms such as eBay and TikTok to report sellers who meet either of these thresholds in a calendar year:
- 30 or more sales of goods, or
- Annual gross sales proceeds of approximately £1,700 or over.
The digital platform must notify you, and you must provide details they require to make a full disclosure. The report to HMRC may not mean you have to pay tax eg if selling personal possessions, but that would be matters for you or your tax agent and HMRC to decide and agree on.
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