Staying on the right side of HMRC when online trading

The commercial landscape has shifted dramatically since Covid-19 but even before the pandemic the way many people were making money was changing. With restrictions on physical retail spaces and an increased reliance on digital platforms online trading is now mainstream. This transition while beneficial for many individuals and businesses has caught the attention of HMRC due to the ease with which revenues can go undeclared.

Businesses ranging from sole proprietors operating a ‘side hustle’ to large retailers have moved to online platforms as primary avenues for the selling of goods and services.

The convenience offered by online trading to smaller traders include the direct delivery of goods to buyers and minimal overhead costs both of which have helped lower barriers to entry and create a thriving digital marketplace. Larger retailers many of which are still operating on the high...