Stat of the day: £7bn

The extra revenue HMRC hopes to raise each year, helped by a crack-down on eBay-ers.

by
Last Updated: 09 Oct 2013
People who regularly use eBay and other internet sites to raise extra cash are the latest to be targeted by HMRC, as it seeks to raise an extra £7bn revenue each year.

HM Revenue & Customs said occasional sellers wouldn’t need to pay tax, but people who regularly trade goods might have to pay income tax, national insurance and VAT. To help catch tax dodgers, it plans to use new technology to monitor how often people are trading, and how much they’re making.   

Among other professions to be targeted are private tutors and fitness coaches. It follows HMRC’s decision to put restaurants under more scrutiny, as staff tips are often under-declared to the tax man because they’re mostly paid in cash. Although judging by British tipping standards, whether this will come close to raising the £7bn shortfall each year is questionable… 

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