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If you regularly sell goods or services through an online marketplace, you could be classed as a ‘trader’.
And if you earn more than £1,000 before deducting expenses through your trading, you will need to pay Income Tax on this.
For tax, an online marketplace is any website or mobile phone app that handles and enables the sale of goods and services from individuals and/or businesses to customers.
If you only sell items occasionally, you can check if you need to tell HMRC about this income.
If you’ve never declared income through a Self-Assessment tax return, you can register for HMRC Online Services.
Please talk to us if you need any advice in this area.
See: Selling online and paying taxes - information sheet - GOV.UK (www.gov.uk)
08 Jul 2024
The UK's business groups have pledged to work in partnership with the new Labour government to revitalise the nation's economy.
The UK's tax gap estimate rose to a record to £39.8 billion in 2022/23 as small businesses accounted for almost two thirds of unpaid tax, according to HMRC's data.
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