Reporting rules for digital platforms

HMRC have published new guidance on the reporting rules for operators of online platforms, covering the following:

• what qualifies as a digital platform;
• which platform operators fall within the reporting requirements;
• categories of sellers which should be reported by operators;
• details that need to be collected, including due diligence on sellers;
• what to report and when to report it;
• how to submit a report (noting that HMRC will provide an update when the online service is made available); and
• penalties for failures to comply with the reporting requirements.