Internet trading

Topic Author:

Joanne Holland

Topic posted on:

9:39 GMT 30.09.11

Post Author Date

HMRC have announced a campaign to target e-marketplace traders who are not disclosing taxable transactions. Inspectors will focus on income tax, capital gains tax and VAT. Revenue officials have always looked though newspaper classified advertisements to see if the same names and telephone numbers appear regularly. Now that search will be extended to trading websites. Tutors and coaches offering services online will also be scrutinised. Anyone volunteering information is likely to receive a lesser penalty although interest will still be charged.

If you need to discuss bringing your tax affairs up to date please speak with Steven Pinhey or one of our other Beavis Morgan partners.

Joanne Holland

14:22 GMT 19.01.12