Accountants warn against eBay tax evasion
Accountancy firm Baker Tilly has warned people trading on eBay about tax evasion after a man was jailed for two years for failing to declare income from online sales.
John Woolfenden was convicted at Bolton Crown Court after he evaded paying £299,752 in tax while trading on eBay.
Andrew Hubbard, tax partner at Baker Tilly in Nottingham said: “Using online auction sites such as eBay can be a great way of earning some extra money, but if these are being used for carrying on a trade, it is the responsibility of private traders to disclose their earnings to HM Revenue and Customs and pay the correct amount of tax.
“HMRC has recently become significantly more proactive in pursuing tax evaders.”
Source: nottinghampost
