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HMRC Clamping down on eBay Sellers as of 1st Jan 2024

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Heads up if you are an eBay seller. If you google HMRC and eBay you will see a string of news reports on this. As of the 1st Jan HMRC will be looking closely as any accounts earning more than the £1000 a year personal selling allowance. Joes the time to make sure all your accounts are in order if you are a regular seller. Remember you can claim back things against your tax like your phone bill, travel, purchases that were for resell ect.

SaveMeSunday
11 months ago
What do you think of this?+20 points
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MelissaLee1

Sold a book for a tenner and got paid six so not quite a candidate yet but thanks for the heads up.

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blacklabrador

Sounds about right, go after people who are trying to make a bit to help with the cost of living or to treat themselves to a holiday, meanwhile certain large corporations pay a pittance in tax.

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telmel

blacklabrador You are spot on there B , thats why the rich are getting richer and the poor poorer , we live in a disgusting world 😠

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JLouM

Didn’t take long for them to think of that. Is that £1000 per digital account though? You can make up to £1000 on different platforms? Or is it overall? Not so attractive if that’s the case.

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blacklabrador

JLouM I've not actually seen Facebook Marketplace mentioned as one of the platforms that will be monitored.

Guess where I'll be selling any unwanted prizes / assorted cr@p in future 😆

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Alice8989

JLouM The threshold is £1000 across different platforms unfortunately (not per platform)

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Alice8989

blacklabrador Excellent point! I tend to use other sites out of convenience but FM may be my best shot at getting rid of unwanted stuff going forward

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martinlufc5637

Yet nothing is mentioned about those selling on Facebook, can't remember last time I looked on eBay, it's gone hill big time

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tumblespots

Where will it all end? Soon they will be 'grilling' us when we sell things at a bootsale and demanding tax on those sales too!

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Downtrodden

tumblespots They will be looking in people's bank accounts soon as well. They are just sorting that one out quietly.

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tumblespots

tmcelligott Very true, I had read about that. It's absolutely outrageous that, amongst other things, even if you get a basic state pension - no pension credit - that they are still going to be able to demand access to your bank account. Image

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KAW18

tmcelligott There have always done this. Along with the DWP if your claiming benefits.

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SarahHorsfield

It’s vinted airnb it’s not second hand stuff the general joe bloggs sells

Unless it’s a pretty penny or two

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jms19

I suppose it was only so long before they started clamping down on this since some people earn all their income from online selling

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tillie4bb77

Then it will be Vinted and so on 🤷‍♀️

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Alice8989

tillie4bb77 The £1000 threshold is going to concern several sites including Vinted

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DazLee67

So you buy stuff and they tax it ...then you sell it for less on ebay and they tax it !!! ...truth is the tories are just filling their pockets and off shore accounts while this country is in freefall !

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JLouM

DazLee67 Someone said if you sell for less then it’s not profit so not taxable?

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iamahappyperson

What about the beggers on tiktok getting gifts, making thousands and paying no tax.

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Kazz23

Not used it for years too many scammers when you try and buy things. Thanks for the heads up though, good to know.

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comriegold

And allowing the millionaires to dodge paying tax

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PhilipMarc

Taxing people almost every way they can and then there are those who wonder why people try to avoid pay taxes if they can.

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pmadrex31560

Got nothing to do with HMRC if you're a private seller. It's a scandal in what MPs get in salary plus expenses.

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Jerseydrew

Not a surprise another way to sting the poor while the rich dodge tax

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Mark007

Quite good information for those who sells more and they never aware

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BonzoBanana

If it puts people off selling their the stuff they no longer use there will be less options to buy secondhand and more goods will be imported new. It seems extremely counter productive. Surely if you are trying to help the economy you put more taxes onto new goods especially those imported. I just can't see the point of this if it means they are going to start badgering people because they sold £1500 over the year on ebay. How are they going to work out what is sold at a loss and what profit if people haven't kept their purchase receipts?

The £1000 amount just seems far too low. Anyone selling a secondhand car has likely instantly gone well over the amount. Most non-commercial sellers sell at a loss on ebay but occasionally you might sell one item at a profit out of maybe 10 items lets say. How does that work out?

Just seems like another policy by a clueless government who don't know how to fix the economy but just look for more ways to tax people.

I feel the £1000 amount is far too low. I'd probably set it at, at least £5000 maybe more like £10k.

Of course the other effect of this is likely a huge inflationary push on prices if sellers have to pay more tax.

I personally think selling secondhand goods should be tax free. The tax was paid on the initial sale and I think that should be it. Trying to get everyone to buy secondhand and re-use items rather than replace with new should be a priority when we are running a huge trade deficit.

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