Money blog: HMRC issues tax clarification - as Vinted and eBay to start sharing seller information with tax man (2025)

Aldi narrowly pipped Lidl as it was named the cheapest supermarket in November.

The latest analysis from Which? reveals a basket of 55 items from the budget retailer cost £97.89 last month.

It came just ahead of rival store Lidl, where the same items cost £98.27 with its Lidl Plus loyalty scheme.

There were no huge savings for Lidl customers using the scheme, according to the analysis, with a 55-item basket costing £98.34 without it on average.

Tesco was next cheapest - but even with a Clubcard, shoppers paid £7 more than Lidl.

The basket cost £105.61 with a Clubcard and £108.45 without.

Loyalty scheme savings were slightly bigger at Sainsbury's - £106.71 with a Nectar card and £112.06 without - but with the cheaper option still nearly £9 more expensive than Aldi's offering.

When it came to the table overall, there was a £25 difference between the most expensive supermarket - Waitrose - and Aldi.

The list of 55 items included both branded and own-brand items, such as Birds Eye Peas, Hovis bread, milk and butter.

The analysis includes special offer prices and loyalty prices where applicable, but not multibuys.

Ford's UK boss has called on the government to provide consumer incentives of up to £5,000 per car to boost demand for electric vehicles and help the industry hit challenging climate targets.

Lisa Brankin, chair of Ford UK & Ireland, told Sky News that direct support for consumers to purchase zero-emission vehicles is crucial if the industry is to remain viable and hit challenging net zero milestones.

Asked if the incentives would need to be in the order of £2,000-£5,000 to be effective, she said: "That is a good question, but it would need to be in that region. It will need to be substantial."

Read my full story here...

By Sarah Taaffe-Maguire, business and economics reporter

The political turbulence in South Korea hasn't just shaken civilians and legislators but markets as well.

Many household brands took a hit to their share price with South Korea's benchmark stock market index, the Kospi, down nearly 1.45% since its president implemented martial law on Tuesday afternoon.

Major international businesses such as Samsung Electronics, LG, Hyundai and Kia make up the index.

They've seen their market value fall by millions.

Samsung's share price is down 0.93% since Tuesday afternoon, LG's fell 1.5%, with Hyundai seeing a 2.56% drop since the turbulence began.

Meanwhile, Kia's stock was up as it announced higher payments for shareholders.

The South Korean currency, the Korean won, has recovered from yesterday's plummet but is still about 0.9% below with $1 buying ₩0.70621.

France too is seeing market moves in response to political uncertainty.

With the potential ousting of French Prime Minister Michel Barnier, the premium demanded to hold French government debt has risen and the stock market index of reference, the CAC 40, is below the levels seen for most of the year.

As the eurozone's second-largest economy, France's troubles have weakened the euro, meaning you can buy more for your pound. One pound currently equals €1.2065.

Transport Secretary Heidi Alexander has today announced that South Western Rail will be the first train operator to be nationalised in the UK.

Shortly afterwards, in July 2025, c2c will also come under public ownership, before Greater Anglia is nationalised in the autumn.

Labour says this move will put "passengers back at the heart of services after 30 years of privatisation".

It comes just days after the Passenger Railway Services (Public Ownership) Act 2024 received Royal Assent, paving the way for a "major shake up" of Britain's railways.

Ms Alexander said: "For too long, the British public have had to put up with rail services which simply don’t work. A complex system of private train operators has too often failed its users.

"Starting with journeys on South Western Railway, we’re switching tracks by bringing services back under public control to create a reliable rail network that puts customers first.

"Our broken railways are finally on the fast track to repair and rebuilding a system that the British public can trust and be proud of again."

A Michelin-starred chef who had pies worth £25,000 stolen along with his work van says the food has been returned - but it is "damaged" and not edible.

Tommy Banks, who owns two restaurants and a pub in North Yorkshire, posted a video on social media this week saying his work van had 2,500 pies stored inside for York Christmas market when it was stolen from just outside Ripon.

He pleaded with the thieves to drop off the pies somewhere and asked anyone offered them to call the police.

The chef now says police have found the van with fake number plates on - but the pies are damaged and no longer edible.

The van has also been "badly damaged" and is "almost certainly a write-off".

"The pies are in the van but have been damaged and not refrigerated so are also written off unfortunately," he says.

North Yorkshire Police said the van was found abandoned in Cleveland on Friday and reported as stolen on Monday.

Woodbridge is the place to be for residents wanting to live the happiest life, according to new research.

The market town in Suffolk topped Rightmove's annual list of the happiest places to live in Britain for the first time after knocking London's Richmond upon Thames off the top spot.

Residents of Woodbridge gave high scores for feeling that they are able to be themselves in the area, the community spirit and friendliness of the people, and access to essential services such as doctors or schools.

Richmond upon Thames came in second, while Hexham, in Northumberland, nabbed third.

Woodbridge mayor councillor Robin Sanders said: "The happy mood of residents is a reflection of the vibrant town centre."

More than 35,000 people across Britain completed the Rightmove study, with residents asked questions such as how proud they feel about where they live, their sense of belonging, public transport and whether they earn enough to live comfortably.

According to the property portal, Monmouth is the happiest place to live in Wales, while Stirling was top in Scotland.

Feeling proud to live in an area was the main factor in overall satisfaction, Rightmove said, while living near family and friends was the smallest driver.

Do you live in Woodbridge or any of the other happiest places? Or do you think your hometown has been unfairly left off? Let us know in the comment box at the top of the page.

People selling unwanted items online can continue to do so without any new tax obligations, HM Revenue and Customs has confirmed.

Online platforms will start sharing sales data with HMRC from January - a new process that, when announced last year, generated concerns that a new tax was being introduced.

But whether you're selling some shirts on Vinted, DVDs on eBay, or unwanted Christmas presents Depop - nothing has changed.

A survey conducted by eBay showed that two in five online sellers believe that they would be subject to tax for selling second-hand goods online.

When asked about the specifics, almost six in 10 were unaware that sellers are only reported if they hit 30 transactions or more or have sales of around £1,700 or more.

Of those who previously indicated they were aware of the rules, 29% were unaware of the specifics.

"We cannot be clearer - if you are not trading and just occasionally sell unwanted items online - there is no tax due," Angela MacDonald, HMRC's deputy chief executive, said.

"As has always been the case, some people who are trading through websites or selling services online may need to be paying tax and registering for self-assessment."

The sharing of sales data does not automatically mean the individual needs to complete a tax return. However, those who may need to register for self-assessment and pay tax, include those who:

• Buy goods for resale or make goods with the intention of selling them for a profit;
• Offer a service through a digital platform - such as being a delivery driver or letting out a holiday home through a website; and
• Generate a total income from trading or providing services online of more than £1,000 before deducting expenses in any tax year

Each Wednesday we ask top chefs around the UK to pick their favourite budget eats where they are and at home. This week we're speaking to Daniel Clifford, chef patron at two-Michelin starred Midsummer House in Cambridgeshire.

Where are your go-to cheap eatsfor two, for less than £40, in Cambridgeshire?

The Pantry in Newmarket -They cook everything fresh with local ingredients and the menu selection is interesting. There's always something you fancy on the menu. Best for breakfast.

Steak and Honour- Run by a lovely couple, this is the best burger restaurant in Cambridge.

Yippee Noodle Bar- Quick, easy and extremely tasty. This is my go-to with the kids for a quick dinner fix.

What's your go-to cheap meal at home?

Pea and ham risotto - we've had it every Wednesday at Midsummer House since the week we opened; it's become part of the furniture.

Recipe - serves six:

• One onion, finely chopped
• 20g butter
• 200ml white wine
• 300g risotto rice
• 600ml chicken stock
• 60g frozen garden peas
• 100g cooked ham hock
• 50ml double cream
• 20g Parmesan, grated
• Salt and lemon juice, to taste
• Parsley, finely chopped

Sweat the onion in the butter until translucent. Add the white wine and reduce. Put the risotto rice and chicken stock in the pan and bring everything to the boil. Cook for seven minutes on a high heat and then drain the risotto base in a sieve, keeping the liquid. Blast chill the cooked rice (or put it in the freezer for 10 minutes).

When ready to serve, gently heat equal quantities of rice and cooking liquid together. Reduce the liquid by half, gently fold the peas and ham through, add the cream, Parmesan and chopped parsley, then season with salt and lemon juice to finish.

Top tip: Microwave the lemon for 10 seconds to get more juice out of it!

How did you get into cheffing?

I had a school work experience where I fell in love with the atmosphere of the kitchen. I went to day release college at Canterbury University, but soon realised working in a university kitchen that people in the class were better than me - I didn't like that!

I then went to work at a local hotel in Canterbury where the head chef had worked at Michelin restaurants and he inspired me to push myself and travel around the UK, working in some of the best restaurants in England at that time.

I opened up Midsummer House in 1998. I was awarded my first Michelin star at 2002, and another in 2005.

We've spoken to lots of top chefs - check out their Cheap Eats from around the country...

The government has defended a new crackdown on TV junk food advertising that includes types of porridge.

Sweetened varieties of the oaty breakfast staple, like those with syrup and fruity flavours, have been caught up in the measure, saidThe Sun, along with some yoghurts and granola.

Such product ads are earmarked for removal from TV screens before the 9pm watershed, while a total online ban would follow in 2025.

Asked about the inclusion of some porridge in the crackdown, the prime minister's spokesperson said the action was designed to tackle heightened obesity and tooth decay among children.

The latter was an issue often brought up by Keir Starmer during the election campaign.

"We cannot let this situation continue," said Number 10.

"We are taking action to prevent these issues in the first place."

They pointed to "deeply concerning" figures suggesting one in 10 reception children are obese.

Most of the UK's major supermarkets have confirmed their opening hours for the festive season.

So if you're the one who usually has to make the late dash to the shops because somebody forgot to buy the parsnips - read on.

Tesco will close its Extra and Superstores early at 7pm on Christmas Eve, while Express stores will be closed at 10pm.

All of its stores are closed on Christmas Day, but reopen from 9am on Boxing Day and resume normal trading hours through to New Year's Eve, when Extras and Superstores will close at 7pm and most Express stores close at 10pm.

In England, Wales, and Northern Ireland, Extras and Superstores will be open 8am-6pm on New Year's Day, while in Scotland they will open 11am-6pm.

Aldi shoppers have from 7am until 6pm on Christmas Eve to get shopping in before stores close for Christmas Day and Boxing Day.

Doors will open again from 8am until 8pm for 27-28 December, from 9.30am until 4pm on 29 December, and from 8am until 8pm on 30 December.

Aldi stores are open on New Year's Eve from 8am until 6pm and are closed on New Year's Day.

For those shopping in Lidl, stores will be open from 7am until 6pm on Christmas Eve but will then be closed on Christmas Day and Boxing Day.

They will then be open from 8am-10pm, except on Sunday 29 December when hours will be 1pm-6pm. On New Year's Eve, Lidl is open 8am-6pm.

Waitrose are also closing shops on Christmas Day, Boxing Day and New Year's Day. Some stores are opening, mainly for Deliveroo and Uber Eats orders, on Boxing Day and New Year's Day.

All the Shell and Welcome Break stores will trade as usual.