HM Revenue and Customs have recently announced that they have added etrading to its list of targets.
The online marketplaces campaign will focus on people buying and selling goods as a trade or business and who fail to pay the tax owed. HMRC software will trawl the net for traders who may have failed to pay the right tax.
There is clearly a distinction between buying and selling a few items as against more commercial efforts in trading to make a profit. If in doubt as to which side of the line you fall, take advice as to whether you should be registered with HMRC.
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