Online traders disclosure facility

Online traders disclosure facility

The latest campaign to be launched is called the e-Markets Disclosure Facility and will target taxpayers who should be paying tax on income they earn from buying and selling goods direct to others using online marketplaces such as eBay.

Launching the new initiative Marian Wilson, head of HMRC Campaigns, said: ‘This campaign is part of a wider HMRC initiative to provide support and guidance to the public on tax evasion and is aimed at people using online marketplaces to buy and sell goods as a trade or business and who fail to pay the tax owed. Those who only sell a few items and who are not traders are unlikely to be liable to pay tax on what they sell and will not be targeted by this campaign.’

As a first step, qualifying taxpayers must notify HMRC by 14 June 2012 of their intention to make a disclosure by completing an online notification form available at www.hmrc.gov.uk/campaigns/notify.htm.

An actual disclosure together with an arrangement to make payment of all tax, interest and penalties due must be made by 14 September 2012.

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