Sorry girlies! This is how many items you can sell on Vinted before being flagged to HMRC

It’s super low

47 mins ago

Who knew flogging your old Zara jeans on Vinted could get you in trouble with the tax man?

This week, tax experts are sounding the alarm. Yep, HMRC are cracking down on people selling clothes online again – and if you’re shifting more than just the occasional Depop-era bucket hat, you might need to start thinking about tax returns.

Since the start of this year, HMRC has been getting data straight from platforms like Vinted, Etsy and eBay. That means if you’ve made more than 30 sales in 12 months, or if your sales have tipped over £1,700 in total, HMRC now knows about it. Yes, only 30! Even if you’re not actually making a profit, the platforms are still handing over your info.

Tax experts are warning that this could put loads of casual sellers at risk of being investigated – and the fines could end up being way more than what you’ve earned on your side hustle.

Credit: Unsplash/Apps Hunter

Lee Murphy, director of an accountancy firm, told Plymouth Live: “HMRC uses data provided by the platform to match against each individual’s tax records. Those who’ve exceeded the annual trading allowance of £1,000 and don’t declare it may receive reminder letters. Ignoring them could mean full tax inquiries and even criminal investigations.”

So basically, if you’ve been casually flipping your old Urban Outfitters dresses or even running a semi-secret side business, you need to be careful. The trading allowance means you can earn up to £1,000 from selling before having to declare it, but beyond that, HMRC could expect you to pay up.

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If you’re not sure how much you’ve sold, now might be the time to scroll back through your Vinted or Etsy account and actually check. And don’t forget you can offset costs like packaging, postage and couriers when doing your self-assessment, so keep those receipts.

You can work out how much tax you’d owe using this calculator.

Moral of the story? Selling your clothes online isn’t as low-key as you think – HMRC is watching.

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Featured image credit: Unsplash/Parker Burchfield