Selling items online? Renting a property? HMRC might be updated automatically from today.

New regulations today (1st January 2023) from HMRC

If you sell items online on websites such as Ebay, Vinted, Etsy or any other online selling site, be aware from 1st January 2023 HMRC now require sites to collect and upload sales details automatically.

The implementation of data reporting also applies to overseas website who conform to the Organisation for Economic Co-operation and Development (OECD) regulations, this could affect your property rental income, both domestic and international from companies such as AirBnB. Some companies will not be required to share information until January next year (2025).

For more information, please see the original article here

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