Play Straight in Second Life ; If You Have Caught On to the Internet Craze That Is Second Life to Create a 'Second Life' for Yourself in a Virtual 3d World and You Are Using It to Make Real Profits, Take Care - Hm Revenue and Customs has Launched a Sophisticated Crackdown to Make Sure You End Up Paying Your Dues.

Summary

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If you have caught on to the Internet craze that is Second Life to create a 'second life' for yourself in a virtual 3D world and you are using it to make real profits, take care - HM Revenue and Customs has launched a sophisticated crackdown to make sure you end up paying your dues.

Hmrc is concerned that thousands of individuals are using the life simulation game to sell virtual items to generate real money profits and not paying tax on their gains. People are making real money in Second Life - last year an American who created a second self as a virtual property magnate made more than 1 million through the game.

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Extract

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Play Straight in Second Life ; If You Have Caught On to the Internet Craze That Is Second Life to Create a 'Second Life' for Yourself in a Virtual 3d World and You Are Using It to Make Real Profits, Take Care - Hm Revenue and Customs has Launched a Sophisticated Crackdown to Make Sure You End Up Paying Your Dues.

Tax inspectors are using a new high-tech snooper computer system called Xenon to scan the site, which has over 35,000 regular users in the UK. Th...

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