The UK tax authority, HM Revenue & Customs (HMRC), published additional guidance on the UK’s implementation of the OECD Model Rules for Reporting by Platform Operators with respect to Sellers in the Sharing and Gig Economy. The rules require in-scope UK digital platforms to collect and report to HMRC annually information on the income of sellers using their platforms. The UK rules apply from 1 January 2024, with the first reporting of data in January 2025. The guidance covers various aspects, including what qualifies as a digital platform, who needs to report, what needs to be collected, due diligence, reporting requirements, and penalties. HMRC has also issued guidance on selling goods or services on a digital platform, including information on sellers’ potential tax obligations.
Source Deloitte
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