From 1 January 2024, online e-commerce platforms such as eBay, Etsy, Fiverr, Deliveroo and Vinted must now share details of the traders using their sites and the income those users have made with the UK tax body HMRC.

In this video we discuss what is happening, whether it is anything freelancers or people running side hustles to worry about and what steps you should be taking in response.

Chapters
0:00 Introduction
0:40 What is happening?
2:48 Badges of Trade
5:23 HMRC Investigations
8:39 What you should do

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Finally here are the various useful links mentioned in the video:

👉 HMRC Tax free allowances on property and trading income - https://www.gov.uk/guidance/tax-free-...
👉 The Rent a Room Scheme - https://www.gov.uk/rent-room-in-your-...

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➡️ The information contained in our videos is provided as general information only. It is not a substitute for professional advice.

➡️ Also check us out at https://lightworkbusiness.com where provide answers to the common business questions small businesses face to enable them to get the legal, financial and administrative basics of running a company - the Basics of Business - right from day 1!

Disclaimer: This video may contain affiliate links. Lightwork Business is a trading name of Basics of Business Limited (no. 14755046), a private limited company registered in England and Wales.