Online Traders Urged to Comply with Tax Rules
News release 31st May 2012People who make money using online marketplaces such as eBay and Amazon Marketplace are being advised to ensure that they’re complying with tax rules. Traders who use such marketplaces are still required to submit tax returns and pay tax on the profits they make, just as they would if they were trading from a shop or market stall, says Andy Severn, Head of Taxation at accountants and tax advisers Duncan & Toplis . Her Majesty’s Revenue and Customs (HMRC) sees this as a risk area and believes that many online traders are not