HMRC reporting of 2024

[degsey69]

Interesting information from eBay about reporting sales to HMRC in Jan 2025.

It seems that only new accounts created in 2024 will be reported.

"Required UK digital sales reporting should only affect newly registered accounts in 2024 and all accounts in 2025 who pass either of the below calendar year sales thresholds on eBay:

Total sales on eBay is equal to or more than €2,000 (approximately £1,740) after deducting fees and commissions or taxes
30 or more sales transactions are completed on eBay (cancelled transactions are not included in the calculation)"

Source: https://community.ebay.co.uk/t5/Anno...C/ba-p/7548575

[OldTom]

Originally Posted by degsey69

Interesting information from eBay about reporting sales to HMRC in Jan 2025.

It seems that only new accounts created in 2024 will be reported.

"Required UK digital sales reporting should only affect newly registered accounts in 2024 and all accounts in 2025 who pass either of the below calendar year sales thresholds on eBay:

Total sales on eBay is equal to or more than €2,000 (approximately £1,740) after deducting fees and commissions or taxes
30 or more sales transactions are completed on eBay (cancelled transactions are not included in the calculation)"

Source: https://community.ebay.co.uk/t5/Anno...C/ba-p/7548575

Surely you're not suggesting that only accounts created in 2024 will be reported. It's very clear that, as we know, all accounts from 2025 which meet the sales threshold will be included.

I suspect that new accounts created in 2024 will have to meet the new reporting information requirements and all others will be onboarded in due course.

The link within your link explaining this is the important one, it spells out how ebay plan on doing this:

https://www.ebay.co.uk/help/account/...orting?id=5454

[Freakzilla]

I posted this on here a few days ago. The general consensus on the ebay forums is that ebay have worded it badly. All details will be passed on.

[Freakzilla]

and has anyone had the banner pop up yet?

[degsey69]

Its strange they state one thing and they have attorneys looking at what they put out.

We will see

[rsot]

Originally Posted by Freakzilla

I posted this on here a few days ago. The general consensus on the ebay forums is that ebay have worded it badly. All details will be passed on.

Worded it badly...from ebay? That's quite unlike them ...

[murdered_by_ebay]

Originally Posted by degsey69

Its strange they state one thing and they have attorneys looking at what they put out.

We will see

there is a grace period of one year for existing sellers so that ebay get more time to collect information and may report some info 2025 and for others 2026

[Freakzilla]

So are you saying if you are an existing seller, the marketplaces won't report your 2024 info, but will start from 2025?

Originally Posted by murdered_by_ebay

there is a grace period of one year for existing sellers so that ebay get more time to collect information and may report some info 2025 and for others 2026

[murdered_by_ebay]

Originally Posted by Freakzilla

So are you saying if you are an existing seller, the marketplaces won't report your 2024 info, but will start from 2025?

are not obliged by law to report 2025 , does not mean they will not

[Freakzilla]

I don't really see how marketplaces can when they have nobody's National Insurance Number.

[murdered_by_ebay]

Originally Posted by Freakzilla

I don't really see how marketplaces can when they have nobody's National Insurance Number.

the problem is likely in creating the actual system to collect , process and submit reports

collecting NIN is easy , it is already working with ID numbers , as soon as a european seller sell their first item in the US they get a red banner displayed asking to add ID number , as long as it is not added no new listings in the US will be possible

my guess is that ebay will simply allow more time to add NIN number so that there will not be any limitations short term

[175tom]

I'm curious: is anyone on this forum continuing to sell regardless of what is going on?

Ive left my account so far and made 0 sales in January. I'm by no means a business, and I don't sell large quantities. However, I do sell around 20–30 items a year and make over £1,000, but not by a lot!.

Is everyone else doing the same thing until some new information arises or just carrying on as normal and seeing what is around the corner?

Ive had some great advice from some people on this forum, and I do think surely someone making 4–5k a year wouldn't even be worth looking into. But there is always that seed of doubt in my mind! In all honesty, I don't have the energy for if a letter came through the door to go through all receipts of my used stuff over the years that I've sold, some of which I've bought used and sold for a profit, and have to prove all of this!

So yeah, just curious what everyone else is doing so far and if all sales have come to a stop?

[Freakzilla]

I'm carrying on whilst moving items across to my legit accounts.

I sell stealth on Etsy, Amazon and Ebay. None of them have ever asked for NI Number which is what HMRC want. They aren't bothered about UTR,

[Freakzilla]

If you only sell that amount of items a year, why not use a legit account?

Originally Posted by 175tom

I'm curious: is anyone on this forum continuing to sell regardless of what is going on?

Ive left my account so far and made 0 sales in January. I'm by no means a business, and I don't sell large quantities. However, I do sell around 20–30 items a year and make over £1,000, but not by a lot!.

Is everyone else doing the same thing until some new information arises or just carrying on as normal and seeing what is around the corner?

Ive had some great advice from some people on this forum, and I do think surely someone making 4–5k a year wouldn't even be worth looking into. But there is always that seed of doubt in my mind! In all honesty, I don't have the energy for if a letter came through the door to go through all receipts of my used stuff over the years that I've sold, some of which I've bought used and sold for a profit, and have to prove all of this!

So yeah, just curious what everyone else is doing so far and if all sales have come to a stop?

[175tom]

Originally Posted by Freakzilla

If you only sell that amount of items a year, why not use a legit account?

I do use a legit account. I converted them when MP came in and realised I could put my previously banned details in. I'm more bothered about the tax and if they really are going to be coming after everyone who makes over £1,000 and then looking into their past sales, etc. I would like to continue to sell, but I am not entirely sure how strict they are going to be or if they are just scaremongering! I know there are people running full-time businesses and not paying tax (none of my business), but I’m wondering if they are going to be going after those making 4-5k a year and expecting us to upload all receipts, etc.

Id like to think they are going after those selling huge volumes and who are obviously operating a business, but lets face it, it's always the little guys who get fu**ed. So I’m very wary at the moment of doing anything.

[13obby]

To be honest i’ll be continuing for now and watching this closely to see how it pans out as ebay is being very vague as usual (muppets) at the moment and then go from there.

[Freakzilla]

So you aren't resgistered as self employed with HMRC?

Originally Posted by 175tom

I do use a legit account. I converted them when MP came in and realised I could put my previously banned details in. I'm more bothered about the tax and if they really are going to be coming after everyone who makes over £1,000 and then looking into their past sales, etc. I would like to continue to sell, but I am not entirely sure how strict they are going to be or if they are just scaremongering! I know there are people running full-time businesses and not paying tax (none of my business), but I’m wondering if they are going to be going after those making 4-5k a year and expecting us to upload all receipts, etc.

Id like to think they are going after those selling huge volumes and who are obviously operating a business, but lets face it, it's always the little guys who get fu**ed. So I’m very wary at the moment of doing anything.

[ebabe]

Saw this article last night

https://forums.moneysavingexpert.com...s-from-sellers

I'm sure eBay want nothing to do with this new scheme, as this will probably make alot of sellers switch platforms

Like 175Tom said, you never know, might be a scare tactic to make sellers on eBay submit, but if eBay does end up requesting NI numbers, then we should assume that they will pass seller details onto the Tax people

[175tom]

Originally Posted by Freakzilla

So you aren't resgistered as self employed with HMRC?

Originally Posted by Freakzilla

So you aren't resgistered as self employed with HMRC?

Yes, correct, because I'm not a business. The items I sell are all used, but some items I have bought in the past on eBay and have sold for a small profit. I sell maybe 20-25 items a year. Granted, my items I sell aren't cheap, i.e., rare Northern Soul records, some designer clothes, and shoes. I know they say these are personal items, so no tax is due, but on the basis that you have all receipts to provide, which I do not have.

The items I sell don't bother me because I sell maybe 20-25 items a year and have made around 4k a year. What bothers me is the hassle that comes with it, which is asking for proof of purchase for the items sold.

Now it’s easy for me to think 3–4k a year selling used items is nothing! and most likely they are going for the big sellers, making 40-50k a year selling multiples of the same product. But one cannot ignore what these people are like, so it has put me off selling on eBay for the time being.

[Freakzilla]

That's not what the rules state. Your income has been over £1000 so you need to register with HMRC. In 20 years I have never been asked to provide a breakdown of details. I just do my tax return, pay the bill and that's it. If you only sell that amount of items it would be easy to manage

Originally Posted by 175tom

Yes, correct, because I'm not a business. The items I sell are all used, but some items I have bought in the past on eBay and have sold for a small profit. I sell maybe 20-25 items a year. Granted, my items I sell aren't cheap, i.e., rare Northern Soul records, some designer clothes, and shoes. I know they say these are personal items, so no tax is due, but on the basis that you have all receipts to provide, which I do not have.

The items I sell don't bother me because I sell maybe 20-25 items a year and have made around 4k a year. What bothers me is the hassle that comes with it, which is asking for proof of purchase for the items sold.

Now it’s easy for me to think 3–4k a year selling used items is nothing! and most likely they are going for the big sellers, making 40-50k a year selling multiples of the same product. But one cannot ignore what these people are like, so it has put me off selling on eBay for the time being.

[Freakzilla]

All marketplaces will need sellers NI number. It's a requirement for the reporting to HMRC. If not they will be fined.

Originally Posted by ebabe

Saw this article last night

https://forums.moneysavingexpert.com...s-from-sellers

I'm sure eBay want nothing to do with this new scheme, as this will probably make alot of sellers switch platforms

Like 175Tom said, you never know, might be a scare tactic to make sellers on eBay submit, but if eBay does end up requesting NI numbers, then we should assume that they will pass seller details onto the Tax people

[OldTom]

Originally Posted by ebabe

I'm sure eBay want nothing to do with this new scheme, as this will probably make alot of sellers switch platforms

That's a bit of an oxymoron given all sales platforms are legally obliged to comply.

Originally Posted by ebabe

Like 175Tom said, you never know, might be a scare tactic to make sellers on eBay submit, but if eBay does end up requesting NI numbers, then we should assume that they will pass seller details onto the Tax people

It's no scare tactic, it the law and you'd better assume they'll pass on your details to HMRC, that's the whole point of it.