Guidance on VAT Reporting for Digital Platforms in the UK HMRC Jurisdiction

• Measures introduced via Finance (No.2) Act 2023 require 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 last month
• Guidance covers details for businesses selling goods or services on digital platforms in the UK
• Information on who is a seller, what must be provided, reporting by platforms, and selling online and paying tax
• Guidance on determining if digital platform reporting is required, registration process, reporting requirements, due diligence, and penalties
• Information on registering for digital platform reporting, what needs to be done, and managing reporting process
• Guidance on submitting reports to HMRC, ongoing account management, adding or changing platform operators, reporting notifications, and informing HMRC about reporting arrangements

Source: deeksvat.co.uk

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.

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