Online sellers reminded of tax
Posted on 17 Oct 2013
Online sellers reminded of tax
Britons who make money from selling online have been reminded of their tax obligations, after figures showed 7.5m people earn on average £360 a month from a side business. Home traders can sell up to £1,000 of items a year on sites such as eBay without paying tax on their profits. Sarah Ghaffari, technical tax manager at the ICAEW, said the allowance also applies to selling items in a car boot sale, baking and selling cakes, and offering services such as accountancy and DIY.
Source: Daily Express
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