Trader taxed on profits made on eBay

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Xeinadin Group

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A gentleman of 80 years of age approached Cobham Murphy because HMR&C had investigated sales he had made on eBay and had assessed him to pay almost £80,000 in tax plus interest and penalties which could have amounted to about £130,000.

His accountant had fought tirelessly but could make no headway against a very determined tax investigator and had to give up.

CM took up the fight and was able to demonstrate that not only were HMR&C’s calculations wrong but also that their interpretation of the facts and how the law applied to them was wrong as well.

The outcome saw a very relieved gentleman who in the end did not have to pay anything at all to HMRC.