We have previously posted about eBay, and other similar digital sales sites, being required to report sales data to HMRC for individual sellers. At present this is only for newly registered accounts in 2024, however from January 2025 they will be regarded to report data for all accounts that pass either of the below conditions during a calendar year.
- Sales, after fees and commissions deducted, of £1,740
- Completing 30 or more sales transactions
While most causal sellers will not meet these conditions, and will not need to do anything further, you may exceed them by simply selling unwanted items throughout the year it. This, in turn, could still raise questions from HMRC about whether you should be registered for self-assessment.
If you have any concerns about the reporting conditions, or if you believe you will need to register for self-assessment, please get in touch with us.