Under new rules, digital selling platforms such as Vinted, Depop, eBay, and Airbnb will have to share data about sellers with HM Revenue & Customs (HMRC). Still, there are things you need to know to make sure you don’t get done for tax avoidance. Anyone who earns under £1,000 from a side hustle does not need to declare it or pay tax on it. So the odds are if you’re selling the odd pair of jeans here and there, this won’t affect you. What the government is trying to do is ensure that those who actively trade as shops on Vinted aren’t avoiding tax.

Source: The Times January 15, 2024 13:34 UTC