Martin Lewis warns Vinted and Ebay sellers they have days to actSource: ITV
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00:00Airbnb, eBay, Uber, Vinted, and similar
00:02have to share your earnings with HMRC
00:04due to an international rule change.
00:05In January last year, they had to start collecting data.
00:07By this Friday, they have to start sharing it.
00:10Now, they will pass on your data
00:11if you're selling over 30 items
00:13or over about 1,700 pounds a year.
00:15But crucially, the tax rules have not changed.
00:19Tax is only due for those who are traders.
00:21That is people who are deliberately buying stuff
00:24in order to sell it for a profit,
00:27or building and repairing it
00:28in order to sell it for a profit.
00:29Not producer Alex who was telling me
00:31she cleared out her wardrobe and was worried.
00:32You cleared out your wardrobe, it's your stuff,
00:34you didn't buy it for profit, you're absolutely fine.
00:36Now, if you are trading, selling for profit,
00:39you can sell a maximum 1,000 pounds a year of stuff,
00:41including platform fees.
00:42Above that, you are and have always been eligible
00:46to pay tax, but now they're reporting it,
00:47so be extra careful.