Martin Lewis issues urgent new tax warning for eBay and Vinted sellers - Liverpool Echo
- Martin Lewis warns that using 'Pay by Bank App' options at online checkouts offers little protection compared to credit card payments, which have more refund rights under the Consumer Credit Act 1974.
- Online sellers on platforms like eBay and Vinted must disclose income to HMRC once they sell 30 or more items annually or earn over roughly £2,000.
- Martin Lewis clarified that tax is only due for those considered traders, who buy items to sell for profit, and not for occasional personal item sales.
- The deadline for filing tax returns for the 2023/24 tax year is January 31, and missing it incurs a £100 fine from HMRC, with escalating penalties thereafter.
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