Online traders could face HMRC investigation
Online traders are being targeted by Her Majesty’s Revenue and Customs in a new bid to crack down on unpaid tax. HMRC is asking all online marketplace traders and business owners to come forward to admit any tax that they haven’t paid – failure to do so will result in ‘harsher penalties’. This new clamp down comes after recent campaigns that have been focusing on dentists, tutors, plumbers and doctors.
The move has become controversial, with one tax body stating that the UK taxing authority should instead have a general campaign on unpaid taxes, as opposed to targeting individual sectors at a time.
The deadline is soon – on the 14th June, online traders who have no paid their taxes in full will need to come forward and admit now that they haven’t paid taxes in full. The full amounts will then need to be paid by the 14th September to avoid any further penalties.
Online businesses will need to come forward and admit any unpaid taxes before the 14th June, HMRC says.