HMRC are coming for you(tubers) in 2024!

[@nolslifegren]

Ebay uk is now dead

[@GlynOC]

Tax is only payable on profit, if you sell your old stuff for less than you paid for it that's not a taxable gain. Selling your rusty old bike won't be a problem. Good on them for going after the plastic shit sellers as you say!

[@kellyfrench2735]

Your missing a few key points here: - limits before the companies have to report to HMRC is £1700 in sales OR 30 orders - HMRC are not going after the average Joe who sells the odd few things monthly, they are targeting users like myself who regularly sell on platforms so essentially running an independent business - technically you were meant to fill out self assessments yearly if you had earnt above the threshold however not many people were doing this and so the government have enforced this. - I agree with your points on bigger companies and covid etc, but I will also say that since covid our spending habits have changed. There are more empty shops so the government is losing money etc now with the traditional high Street costs. People have converted to selling online so why shouldn't taxation apply? - what hmrc have learnt is that other people are able to make a living or side hustle on places like ebay/whatnot and vinted and easily bring in an extra £30,000 annually. Individuals are not raising this so HMRC have implemented a system to monitor it. Source - online seller who has become VAT registered in the last year and has researched this endlessly to help people within the community

[@dunkno69]

do you know what date they will start looking from? jan 24', april 23' etc

[@kellyfrench2735]

Starting from Jan 24. Companies will be made to report from Jan 2025 but it will be for the backdated period

[@dunkno69]

@@kellyfrench2735 great, so I'll need to go legit from now then

[@stuartdaughtry3586]

What absolute rubbish. At the very least, research what you are talking about. The tax rules have not changed. These are the same tax rules that have been in place for decades. Selling your own stuff, selling the rusty old bike IS NOT TRADING, and you will NOT gave to pay tax on it. These tax rules, which have been in force for decades, are simply being enfirced in the way they always should have been. The only unstances where you will have to oay rax is where you are intentionally buying to resell at a markup price, OR are making something to sell at a profit. Because so many people have been using the internet to TRADE under the assumption that its effectively anonymous, using private Ebay accounts to run a business instead of a business account, and doing this in irder to evade their legal and moral responsibility to pay tax, then unfortunately because of these tax evaders HMRC have been forced into taking such action to ensure those trading are meeting their obligations. By trading and not reporting or paying tax on their business these people are stealing from those of use who do follow the rules. How many are also claiming benefits stating they have no income when in fact they are earning by Trading online? Not reporting Trading income is Tax Evasion. Its that simple. Your video us doing nothing but spreading misinformation and scare-mongering. You're right that thus Government needs to go, but this has nothing to do with ensuring people ensure they meet their legal and moral obligations.