Festive eBay traders reminded over HMRC registration. By Dan Martin
Wannabe entrepreneurs looking to earn some extra money this Christmas by trading on eBay are being urged to register with HMRC or risk a £100 fine.
Accountants UHY Hacker Young said enquiries with the Revenue confirmed that any income earned from trading online will result in the need to notify the commencement of a self-employment, even if the trader is under the income tax threshold.
It is expected that thousands of casual traders will be buying and selling online in the run-up to Christmas without realising their obligations to the taxman.