HMRC clamps down on e-market traders
HM Revenue & Customs have turned their attention to e-market traders in their campaign to tackle tax evasion.
The HMRC ‘e-marketplaces’ campaign is targeted at people who are trading online to sell goods and services as a trade or business, but aren't paying the right amount of tax. For some people it's hard to decide whether they are trading or not. The campaign isn't aimed at people who only sell a few personal items rather than trading as a business.
An e-marketplace is an online market or shop, where buyers and sellers trade with each other over the internet. They might buy and sell goods or services, or a combination of both. A separate third party company runs most e-marketplace websites. They allow you to advertise or auction goods or services on their website and usually charge a fee for this service - either for using their site, the amount you sell your goods or services for, or both.
These campaigns provide opportunities for people to put their tax affairs in order voluntarily. Once a campaign closes, HMRC uses that same information and intelligence to follow up with action which can include criminal investigations, aimed at those who choose not to pay up.
For further information contact tax specialist Carolyn Byrne on 01522 541181.