- UK HMRC published guidelines on Reporting rules for digital platforms
- Reporting requirements for individuals selling goods or services on digital platforms
- Digital platforms must collect and report income of sellers starting January 2024
- First data reports due in January 2025
- Qualifications for a digital platform include connecting sellers to customers and disclosing payment amounts
- Reporting platform operators need to report to HMRC
- Excluded platform operators do not need to report
- Reporting required for reportable sellers who actively supply goods or services on the platform
- Information to be collected includes seller details and property information
- Individual sellers require full name, address, date of birth, and tax identification number
- Entity sellers require legal business name, address, and tax identification number
Source: regfollower.com
Note that this post was (partially) written with the help of AI. It is always useful to review the original source material, and where needed to obtain (local) advice from a specialist.
