Why are online traders being targeted by the Taxman?

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Why are online traders being targeted?
In recent years the taxman deems everybody to be trading if you’re selling online, the word hobby doesn’t feature in their vocabulary!

We’re not talking about people selling a few old clothes or bits of furniture on eBay but we’re talking about what the Revenue call Badges of Trade – things that indicate that what you are doing is more than a hobby.

I’ll list them as are you probably ...

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Undeclared Property income or sales

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What is a common tax case for let property?
Mainly people who have rented out a house (maybe one they used to live in) or have acquired from a relative in a will or something and started renting it out.

Time drags on and before you know it you’ve missed the 5th of April one year and then the longer it goes on the more difficult it is to come ...

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“Man with Van” targeted by HMRC

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We’ve seen the fallout on those breeders using Petplan to insure puppies and Amazon and
Ebay traders being caught in many hundreds of tax investigations, but now HMRC seem to
have turned their attention to Any Van ! Self-employed drivers pay commission to the Any
Van platform and thus open the door for HMRC to find them!
Drivers get ready for an influx of letters arriving through the doors and call Lindsay if you
need help or to declare profits ...

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Wills = where there’s a will there’s a taxman!

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HMRC can and do reopen the cases of the dead!

In checking Wills for IHT etc HMRC may well come across a property or bank account that has not been declared!

Well you may have ‘passed over’ but HMRC will not pass over the chance to enquire about  your estate! They have four years to track down the tax from your beneficiaries after you’ve gone.

Give your executors a break, their job is hard enough and get your house on order now!

Make a ...

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