The HMRC warns that UK taxpayers have until midnight to file their self-assessment tax returns, or risk a £100 fine. With over three million returns still pending, they encourage last-minute filers to utilize online resources and the HMRC app. Notably, platforms like eBay and Vinted are now required to report data on sellers exceeding certain thresholds. While this change does not introduce new taxes for occasional sellers, it aims to ensure that those profiting from sales report their earnings correctly. Delays in filing could lead to escalating fines and interest charges on overdue payments.
In a significant shift this year, platforms such as eBay and Vinted must share data with HMRC on sellers who meet specific thresholds-selling 30 or more items or earning at least £1,700.
Around 8.6 million people have already filed self-assessment returns, which include earnings from small businesses, freelance work, and additional income streams.
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