- Measures introduced require certain UK digital platforms to report income information to HMRC
- HMRC exchanges information with other tax authorities for jurisdictions where sellers are tax resident
- OECD rules require digital platforms to provide information to taxpayers to help them comply with tax obligations
- HMRC issued new guidance on digital platform reporting
- Guidance covers details needed when selling goods or services on a digital platform
- Information on who is a seller, what must be provided, reporting by platforms, and selling online and paying tax
- Guidance on carrying out digital platform reporting, including what qualifies as a digital platform, who should register, and penalties
- Information on registering to carry out digital platform reporting, what needs to be reported, and carrying out due diligence
- Guidance on managing digital platform reporting, including submitting reports to HMRC, ongoing account management, and changing contact details
Source: marcusward.co
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.
