Taxman has sights on eBay traders

The taxman is taking an increased interest in traders on eBay according to a report in the Times.

eBay customers who simply sell unwanted items online are not liable to incur tax penalties unless the profit they generate is more than £6,000, at which point capital gains tax may apply.

However, the Revenue is more interested in those traders who are buying in bulk and selling on, in some reported cases making tens of thousands of pounds.

Full article: Taxman has sights set on eBay traders - The Times