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HMRC has issued a warning over a little-known £6,000 rule for eBay sellers. HMRC, the tax arm of the Labour Party government, spoek out on X, formerly Twitter, after a query from a taxpayer.
The taxpayer asked: "I'm selling some personal possessions on eBay and it's now requesting my National Insurance number. There's an allowance of £1,700 before tax.
"Does this include my main income from my employer for which my tax is automated? My old jumpers won't ever earn close enough to £1,700."
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The new reporting requirements for digital platforms came into effect at the start of 2024. It is not a new tax and whether people are selling personal items on eBay, renting homes out on Airbnb or deliver