There are many businesses in the UK that deal with the selling of various types of items at eBay. Like all the other forms of businesses, you must comply with the tax requirements if you sell on eBay. If you carry on this form of business you thus need to hire an eBay accountant.
Not all the accountants are qualified as eBay accountants. You should review the website of the various accounting firms and check whether they offer these services. Most accountants in fact avoid working on accounts involving eBay transactions because of their lack of knowledge of the payments transactions at the site.
The eBay accountants are professionals that have undergone the required basic training of an accountant. They are experienced in accounting matters involving transactions through payment by PayPal and other online systems of payment.
The HMRC has hot line for tax evasion in which people can tip it about those online businesses that are not complying with the tax requirements. It use very advanced computer programs for scanning eBay and other auction sites. It will therefore have information about the real worth of your business earnings from the site. The accountant should ensure that the tax returns are correct.
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