This summer HMRC have announced their intention to target and track down potential tax evaders by locating their businesses on the internet.
Web traders using online market places such as Ebay may soon find themselves within HMRC sights. They intend to use Web Bots to assist them in their scrutiny.
However, there will be some criteria as to what amounts to taxable trading. People selling their own possessions will not be counted as trading, but anyone buying in goods for the purpose of resale will be examined. This is even in the instance of traders purchasing reduced sale items to resell.
If you think you are potentially likely to be affected please give us a call to discuss this issue. Tel: 01225 751302.