Digital Platform Income: What Gravesend Business Owners Need to Know About New Tax Rules

As your trusted accountants in Gravesend, MCC Partners is committed to keeping local businesses informed about important tax changes. A significant new development affects anyone in Kent who sells goods online or provides services through digital platforms.

New HMRC Reporting Requirements for Digital Platforms

Starting January 2024, digital platforms like eBay, Etsy, Airbnb, and Deliveroo must collect and share seller information with HMRC. As experienced accountants serving Gravesend and the wider Kent area, we're here to help you understand what this means for your business.

Who Does This Affect in Gravesend?

These new requirements impact local businesses and individuals who:

• Sell goods online through platforms like eBay or Etsy
• Provide services via apps like Deliveroo or Uber
• Rent out property through platforms such as Airbnb

Key Information for Gravesend Businesses

Platforms will share data with HMRC by January 31, 2025, covering the 2024 calendar year. For goods sellers, reporting applies when you either:

• Sell more than 30 items annually
• Generate income exceeding £1,700 (€2,000)

Understanding Your Tax Obligations

As specialist accountants in Gravesend, we emphasize that this isn't a new tax - it's about improved visibility of existing obligations. The £1,000 trading allowance remains unchanged, but proper recording and reporting are crucial.

How MCC Partners Can Help

Our Gravesend accountancy practice offers:

• Expert guidance on digital platform income reporting
• Self-assessment support for local businesses
• Strategic tax planning to optimize your position
• Clear advice on recording and reporting requirements

Next Steps for Gravesend Business Owners

If you're unsure about your tax obligations under these new rules, our team of experienced Gravesend accountants is here to help. We provide personalized advice tailored to your specific situation.

Contact MCC Partners today at 01474 619 990 or email This email address is being protected from spambots. You need JavaScript enabled to view it. to discuss how these changes affect your business. As your local accountants in Gravesend, we're committed to helping you navigate these new requirements efficiently and compliantly.