- UK digital platforms must report sellers’ income to HMRC under section 349 of the Finance (No. 2) Act 2023.
- HMRC shares this information with tax authorities in sellers’ tax residence jurisdictions, and OECD rules also require a copy to be provided to taxpayers.
- HMRC has issued updated guidance on digital platform reporting.
- The guidance covers platform definitions, registration requirements, registration process, reporting obligations, required information, due diligence, penalties, and reporting deadlines.
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.
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