Do the HMRC rules for online selling affect you?

Confused about paying tax when selling things online? You’re not alone.

When it was announced that Vinted and other online selling platforms like eBay and Depop would be sharing information with HMRC about how much money their users make, there was a lot of confusion.

And no wonder. The nitty-gritty of who needs to pay what in various circumstances is pretty complicated, but broadly, here’s what you need to know:

Platforms like Vinted share data with HMRC for users who:

Sell 30+ items a year

AND/OR

Make £1,700+ in sales

If either or both of these apply to you, the platform you’re selling on will share that data with HMRC and depending on circumstances, you might need to pay tax.

Confused? It’s a tricky thing to navigate, but our article Will new HMRC rules affect how I sell things online? Helps shed some light on it - head to the link below to read it:

Share this reel if you know someone who sells online!

#vinted #hmrc #onlinebusiness #prelovedfashion #secondhand #taxes #moneysavingtips

[ghxstyy_fn]

if you do sell over the 1k and have to start paying tax does someone know how much tax you have to pay? is it a fixed amount or a %? and do you pay the tax after each sale, monthly or yearly