As of today HMRC will be receiving information from Vinted, ainrbnb and eBay. Make sure you are decl

As of today HMRC will be receiving information from Vinted, ainrbnb and eBay.

Make sure you are declaring things properly to avoid penalties and interest.

#hmrc #sidehustle #tax #taxnews #vinted #airbnb #taxreturn #money #finance #mitchthetaxman

mitchthetaxman

2024-04-02 00:46:24

as of today fainted

e bay

air bnb will be sharing information about your earnings to h m r c

and this is what's going to happen

they will send all the data to h masih and that will go into a survey

and that data will match up against your name

and any details h mossy have about you and your earnings

if you haven't submitted to self assessment tax return declaring your earnings then there will be an anomaly and a gap

the system will then issue what's called a one too many letter

and it will say something like their ex

we are embassy of information where you may have received earnings from an online platform

can you confirm your details are correct and what your earnings are

and that is how h mossy will stop issuing investigations as doc collecting taxes on those earnings

is very important that you stop complying so if you have earnings above a thousand pounds

you start submitting a self assessment tax return declaring the income and expenses and pay in tax accordingly otherwise they'd be heavy penalties to pay not only

Text generated automatically and there is a chance to be inaccurate