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New rules now mean people selling around 30 items on online platforms such as eBay and Vinted will have their sales information shared with HMRC, which will be assessed against their tax returns.
Martin Lewis has warned some Vinted and eBay users that they have days before a new HMRC deadline comes into effect. The Money Saving Expert founder issued the notice on his latest ITV special on ...
Online entrepreneurs need to be aware of new rules, HMRC warns Warning as HMRC self-assessment deadline fast approaching – with new rules for Vinted and eBay sellers Skip to main content
In the United Kingdom, inheritance tax is a transfer tax.It was introduced with effect from 18 March 1986, replacing capital transfer tax.The UK has the fourth highest inheritance tax rate in the world, according to conservative think tank, [1] the Tax Foundation, [2] though only a very small proportion of the population pays it. 3.7% of deaths recorded in the UK in the 2020-21 tax year ...
His Majesty's Revenue and Customs (commonly HM Revenue and Customs, or HMRC) [4] [5] is a non-ministerial department of the UK government responsible for the collection of taxes, the payment of some forms of state support, the administration of other regulatory regimes including the national minimum wage and the issuance of national insurance numbers.
Before the advent of Real Time Information (RTI), at the end of the tax year, employers operating PAYE schemes had to report to HMRC their employees, the total that had been paid to them, the amounts of income tax and national insurance contributions (NICs) that had been deducted from those payments, and the amount of employer's NICs due. This ...
The new rule is set to help HMRC crackdown on tax evaders who do business via online platforms without declaring profits. Gen Zers cashing in with side hustles on Depop and Vinted may soon have to ...
An increase in benefit arising from the extinction of any charge, estate or interest in property by the death of a person or at any period ascertainable only by reference to such death is deemed to be a succession, [34] but this does not apply to persons who, at the passing of the Succession Duty Act 1853, possessed estates subject to ...