Accountancy firm Baker Tilly warns over eBay income
Accountancy firm Baker Tilly has issued a warning to those trading on sites such as eBay or Airbnb after a man was sentenced to two years imprisonment for failing to declare income from online sales.
John Woolfenden, from Manchester, was convicted on two counts of cheating the public revenue and one count of concealing or transferring criminal property. The 52-year-old evaded paying £299,752.93 in tax while trading on eBay over a period of six years.
Tax director at Baker Tilly, Matthew Sewell, said: “Using online auction platforms such as eBay or accommodation sites such as Airbnb 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 HMRC.”
Source: bathchronicle-Accountancy firm Baker Tilly warns over eBay income
