A tax expert has issued a warning for Etsy, Airbnb, Facebook Marketplace, Amazon, Depop and Vinted sellers to do one thing to avoid nasty HMRC fine. Starting 1 January 2024, online marketplaces are required by HMRC to collect and report personal details and yearly sales transactions for the previous calendar year, in respect of sellers that meet the reporting threshold.

UK sellers who make over the threshold of €2000 (or around £1700), or sell more than 30 items in a calendar year, set by HMRC will be covered by reporting under these new rules.

Lee Murphy, Managing Director of The Accountancy Partnership , says: “HMRC uses data provided by the platform, whether this is Etsy, Vinted or even eBay, to match against each individual’s tax records.

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