As the new 2024/25 tax year begins in the UK, so too do new reporting rules applicable to second-hand apparel resale platforms including Vinted, Depop and eBay.
While frenzied media headlines earlier in the year characterised this as a ‘Side Hustle Tax’ that would hit individuals selling on these sites, Liverpool Hope University’s tax expert Richard Tyler explains how this was never the case.
Vinted, which has just reported its first ever annual profit, also shares its take on how this misreporting failed to convey the true nature of the HMRC announcement.
