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Online sellers in the UK who generate income from selling second-hand goods on digital platforms, often referred to as “side hustles,” could find themselves paying taxes on their earnings as part of a New Year tax clampdown initiated by HM Revenue & Customs (HMRC).
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Starting from January 1, digital platforms such as eBay, Airbnb, Etsy, Amazon, and Vinted are now required to share seller information with HMRC in a move referred to as the “side hustle tax.” This new regulation aims to enable tax authorities to identify and combat tax evasion effectively. Additionally, it aims to create a level playing field by subjecting online sellers to tax regulations similar to those governing traditional businesses.
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