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UK delays digital platform transaction reporting until 1 January 2024

One-year delay on seller and gig worker income reporting from marketplace operators

The UK’s HMRC has delay from January 2023 to January 2024 new transaction reporting for digital marketplace operators and their gig, sharing and goods economy users.  This data will be used to help identify undeclared taxes, including VAT.  The new deadline will put the requirements behind similar new rules in the EU DAC 7 standard coming in 2023 – first reporting due 2024.

The UK will also incorporate a consultation on the OECD Model Reporting Rules for Digital Platforms.

The UK will be requiring annual transaction report, due by the 31 January of the year following. This will detail sellers and users of the operator’s platform, transactions etc.  The first report will now be due by 31 January 2025. HMRC is aiming to publish the government’s response to the OECD consultation, draft regulations giving details of the new rules, and an update on interactions with EU rules, at the next legislation day in the summer.

Other countries requiring marketplace reporting include: France, Germany and Italy.  The EU’s DAC 7 standard tax reporting requests standard will come into force on 1 January 2023.

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