HMRC’s Tax Campaign Offers E-Traders ‘Fresh Start’, says DSH


HM Revenue & Customs has launched an online auction e-marketplace tax campaign in a bid to raise extra revenue.

The clampdown will target those who sell goods and services online via third-party sites such as eBay, AdTrader and Preloved, but are currently not paying the right amount of tax.

Glen Thomas, Tax Partner at DSH Chartered Accountants and Business Advisors, based in Maidstone, said HMRC’s e-Markets Disclosure Facility (e-MDF) offered e-traders a ‘fresh start’.

“If traders take part in this campaign and tell HMRC about any income that they haven’t previously disclosed they may only have to pay for a maximum of six tax years and also may be able to pay what they owe by installments,” he said.

“It is important to note that this campaign is targeting only those who use e-marketplaces regularly, rather than those who occasionally sell a few personal possessions. HMRC has devised a list of eight questions, which can be found on their website, to help these traders identify if they are classed as an e-trader and therefore liable for tax payments.

“Previously plumbers, electricians, business tutors and coaches, medics and others were successfully targeted, and HMRC hopes to have the same success with this campaign.”

Taxpayers will be able to confirm their intention to make a disclosure up to 14 June 2012 and time to calculate the tax due and make payment by 14 September 2012.

If you would like any advice regarding tax and e-marketplaces or any other tax matters, please contact DSH on 01622 690666, and for further updates please follow us on twitter @dsh_accountants.

For more on HMRC’s latest tax campaign visit www.hmrc.gov.uk

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