Vinted and eBay sellers issued one-day HMRC warning

Sellers have been urged to check if they need to act

Those who use the likes of Vinted and eBay to boost their income have been issued a one-day warning. HMRC has urged sellers to check if they need to make a self assessment tax return.

Anyone who does - and hasn't sent one before - has less than 24-hours to register for the 2023-2024 tax year, or they risk being fined. Online sellers may be liable to pay tax if they pulled in £1,000 or more outside their regular employment between April 6, 2023 and April 5 this year.

The deadline to register for self assessment tax returns is Saturday, October 5. Those unsure whether it applies to them can complete a simple check on the gov.uk website.

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Registration is important as since the beginning of this year, firms like Vinted must pass of user data to HMRC if they've sold 30 or more items, or earned more than than £1,700 in a year, The Sun reports. This was part of a wider tax crackdown to ensure those with side hustles pay what they owe.

Vinted said it would message users who needed to register, however the notification, or making more than £1,000 from sales did not automatically mean users would owe tax. If cash made on online marketplaces over a year is less than the amount they paid for the items sold, then there should be no tax to pay - however those "trading" for profit may need to pay tax.

While the registration deadline was looming, people do not need to submit their return for the 2023/24 tax year - and pay any tax owed - until January 31 next year, if doing it online. An earlier deadline of October 31 applies if people wish to file via post.

HMRC issues a £100 fine to those who fail to file their return by the deadline. There's also a £10 daily fine that applies for every day people fail to submit their tax return.