Draft regulations for digital platform operators published

Draft Platform Operators (Due Diligence and Reporting Requirements) Regulations have been published. These will implement the Organisation for Economic Co-operation and Development model reporting rules for digital platforms in the UK.

The rules will require UK platform operators to collect verify and report particular details of sellers who work on their platform to HMRC and to provide a copy of the reported information to sellers. HMRC will exchange the information with other tax authorities and will use it to detect and tackle any non-compliance by sellers.

The draft regulations set out details of actions that digital platforms will be required to take to comply with the rules along with penalties for failing to comply with the regulations and the appeals process.

The final regulations are expected to be made in early 2023 to come into force on 1 January 2024.

Comments on the draft regulations should be emailed...