Why GoSimpleTax for Online Sellers?
For online sellers, there’s hardly time to file your tax return let alone keep on top of your accounts. As such, it’s not uncommon for online sellers to miss the 31st January deadline or fall foul of HMRC due to errors in their tax return submission. GoSimpleTax helps prevent that by enabling you to input your income and expenditure in real time, and therefore proactively update your tax return.
Our software walks you through the tax year, highlighting your responsibilities as you go.
Take Advantages Of HMRC allowances
If you complete your return via the the HMRC website, it won’t tell you about the available allowances. Go Simple Tax via a series of questions highlights exactly what allowances you can claim for.
Allowable Expenses for Online Sellers
Business expenses are inevitable when you’re an online seller. Thankfully, many can be deducted as allowable expenses from your taxable profits to lessen your Income Tax bill.
These could include:
- Cost of the good and products that is being sold online
- Fees for online markets such as Etsy and eBay
- Fees for payment processors
- Cost of packaging materials to ship products
- Postage and shipping costs
- Cost of a website or other online tools and services
- Professional fees, such as legal or accounting services
- Advertising and marketing expenses
- Insurance premiums
Try out Go Simple Tax for yourself in our free trial – no credit cards required
How GoSimpleTax Video Works
Watch our video that explains how GoSimpleTax works