Listen out side hustlers: as of January 2024 companies including Vinted, eBay, Depop, and Airbnb are now obliged to collect and share seller information with HMRC as part of a new procedure to help “bear down on tax evasion”. HMRC was already able to request information from online firms based in the UK, but now digital platforms will have to report financial details of sellers directly to the taxman.

‍

It comes after the UK signed up to a global agreement by the Organisation for Economic Cooperation and Development (OECD) that allows tax officials to share information with authorities in other countries. Information such as bank account details and number of transactions made by each user will be expected to be reported, otherwise companies might face fines and penalties.

‍

Look, I understand (and support) the premise of taxes. I understand that everyone should pay their share to "go back to the community" and whatever, but why would HMRC want a piece of my "haven't worn it since I was 15 but kids call it Y2K" pie? [Big sigh]