Online traders have been warned they must disclose their earnings to HMRC, following a recent prosecution of an eBay trader.
South Wales independent chartered accountants WBV Ltd is highlighting the issue following the case of a Manchester man who has been jailed for two years for evading £300,000 in tax following an HMRC investigation.
John Woolfenden sold CDs, DVDs and console games via eBay and other auction sites such as Play.com and Playtrade using the name “Globalworldentertainments”, but never declared his self-employed status or sales for tax purposes.
One of South Wales’ largest independent firms of chartered accountants, WBV Ltd, has expanded with the announcement of two new directors and an additional member to its payroll team.