Do you regularly trade goods and services online, such as making sales on a site like eBay with a view to realising a profit?
If so, it’s highly likely you should be paying tax on your profits and should therefore get in touch with HMRC.
Taxpayers who have notified HMRC of their intention to take part in HMRC’s e-marketplace campaign have until 14 September to make all disclosures and pay any overdue tax.
To participate in this campaign, HMRC should have been notified by 14 June 2012. If you missed the deadline, it is still worth getting in touch with HMRC to understand what may be required of you in terms of filing requirements and tax payments.
To understand if you are affected by this e-marketplace campaign, Curo Chartered Accountant’s tax partner Julia Whelan can talk you through the process and assist in getting your tax affairs in order.