If you regularly sell goods or services through an online marketplace, you could be classed as a ‘trader’.
And if you earn more than £1,000 before deducting expenses through your trading, you will need to pay Income Tax on this.
For tax, an online marketplace is any website or mobile phone app that handles and enables the sale of goods and services from individuals and/or businesses to customers.
If you only sell items occasionally, you can check if you need to tell HMRC about this income.
If you’ve never declared income through a Self-Assessment tax return, you can register for HMRC Online Services.
Please talk to us if you need any advice in this area.
See: Selling online and paying taxes – information sheet – GOV.UK (www.gov.uk)
For more information conact Helen Morgan within our Tax Team at our Taunton office.