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