We previously let you know that HMRC were to host a Q&A on their ongoing e-marketplaces campaign. It happened earlier today and we’ve used Storify to make a transcript of the key points made.
Not much happened in an hour (at least in a Twitter hour, maybe a lot happened for an HMRC hour) but we’re still impressed that HMRC are trying this sort of thing:
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Share“Hi, this is Kam from the HMRC press office, I’ll be MC-ing this twitter Q&A session on the HMRC e-marketplaces campaign #emqa
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Share
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Share“Tweets from Laura will have L at the end, tweets from me will have K #emqa
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Share“I have some questions prepared, some from Forums, and we want Qs from tweeps too. Tag them #emqa and we’ll try to answer as many as we can.
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Question 1
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Share
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Share“People trading on online market places who haven’t paid all the tax they owe L #emqa
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Question 2
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Share“What’s the difference between personal and business selling? K #emqa
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Share“We have a guide and video to help you decide if you are trading. Go to hmrc.gov.uk/campaigns/emar… #emqa
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Question 3
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Share“Q from forums: soolin on MoneySaving Exp: Are you working with any e-marketplace sites to get their assistance with this campaign? #emqa
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Share“A: We have contacted a number of e-marktplace sites to tell them what we are doing… #emqa L
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Question 4
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Share“#emqa I have a small business on-line, I keep most of my money in PayPal and re-invest in advertising etc, should I declare this?
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Share“@dannyaston If you spend everything on advertising you might not have made a profit yet, but this sounds like trading #emqa L
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Share“@HMRCgovuk #emqa Ah OK, so as soon as it makes any money I must declare this as a self employed individual?
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Share“@dannyaston If you are trading it’s best to register with HMRC as soon as possible hmrc.gov.uk/selfemployed/r… #emqa L
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Question 5
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Share“@HMRCgovuk What if haven’t kept records of costs of all purchases but now realise might be trading as activity increased #emqaShare“@divera1974 Make your best estimate and let us know what you think you owe. Keep your calculations, we may need to ask for them… #emqa LQuestion 6Share“Q from wholesale forums: dots_and_spots_Jeff: I have often wondered what the tax implications would be of being, an Amazon affiliate #emqaShare“A: There are no special rules. Please refer to our guidance to decide whether you are trading hmrc.gov.uk/campaigns/emar… #emqa LRandom Comment about Working Tax CreditsShare“RT @jmalitrg: #emqa @HMRCgovuk hope that when you advise people they may be trading that you also flag up potenti
al working tax credit entitlement
Share“Good point @jmalitrg Anyone taking part should read the campaign guidance which has a section on Tax Credits hmrc.gov.uk/campaigns/emar… #emqa LCommon sense comment from Nick CooperShare“Bit of advice. If you start a tweet with “I have a small business”, chances are you should be declaring it 🙂 #emqaAnd it’s all over alreadyShare“That’s gone 4pm, so we are wrapping up. Thanks to everyone who took part #emqa K
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