Online sellers have one month to register for tax opportunity
People trading on the internet who haven’t paid all the tax they owe have just one month left to take part in an opportunity offered by HMRC to get their tax affairs in order on the best terms available.
Under the time-limited opportunity, known as the e-Markets Disclosure Facility, online marketplace traders who come forward at any time between now and 14 June and pay the tax, duties and interest they owe can benefit from lower penalties than those who wait for HMRC to catch up with them.
Once the e-Markets Disclosure Facility expires, HMRC will clamp down on those who have failed to declare earnings and paid the tax that they owe.
The campaign is aimed at people using online marketplaces to buy and sell goods as a trade or a business and who are not up to date with their taxes. Those who sell only a few items and who are not traders are unlikely to be liable to pay tax on what they sell and are not being targeted by this campaign.
Marian Wilson, head of HMRC campaigns, said: “Our aim is to make it easy for online marketplace traders to contact us and make a full disclosure of income, thereby putting their tax affairs in order.
“I urge online sellers who think they owe tax on their income to get in touch and get their tax affairs in order, simply and on the best possible terms.
“The information and intelligence we gather is from a wide range of sources and it allows us to target those who should come forward as part of the e-Markets Disclosure Facility.
“If you owe tax and don’t get in contact, do not assume that HMRC will not catch up with you.”