Ebay Tax. Taxation of sales on Ebay

HMRC has implemented regulations regarding data disclosure by online platforms. In essence, this means that eBay, Airbnb, and other online companies will have to reveal information about sellers to the tax authorities.

This implies that if you sell something on eBay or a competitor, or rent out your home on Airbnb, the taxman will come knocking. The reporting exemption threshold is only £1,000 in profit.

This could pose a problem for those who have not reported any income thus far. The tax office may go back in time and require filing tax returns for several past years.

Tax returns in the United Kingdom are prepared for the period from April 6th to April 5th of the following year.

Tax ebay.