Do you buy and sell goods on ebay or other online auctions?

HMRC has issued notices to online auction sites requesting detailed information about the member registers they keep.

The aim is the crack down on people who are trading online through an online marketplace or online auction, selling goods and services as a trade or as a business but who are not paying the right amount of tax.

HMRC have opened on e-Markets Disclosure Facility (e-MDF) whereby disclosures of undeclared income will be met with lower fines and penalties provided these are made by 14 June 2012.

If you are regularly buying and selling on these websites and have not reported this income to HMRC we can help in making a disclosure to HMRC and in filing tax returns in the future.