HMRC: Millions yet to file tax returns as deadline looms
Published On Jan 30, 2025, 7:01 PM
The UK is facing a deadline for online self-assessment tax returns, with millions potentially facing £100 penalties if they fail to file on time. HMRC warns that individuals selling items on platforms like eBay and Vinted must disclose their sales, and penalties will escalate over time for late submissions. Many individuals with earnings from self-employment or side hustles need to complete the tax form, while HMRC also urges caution against scams during this period.
Stock Forecasts
EBAY
Positive
The impending tax deadline could lead to an uptick in online sales as sellers rush to clear their inventory before potential fines set in. As a result, companies benefiting from increased online activity, like eBay, may see increased traffic and transactions, positively impacting their stock. However, the broader impact could also mean increased scrutiny on online sales could dampen growth projections for retailers reliant on casual sellers.
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