On Nov. 4, UK Treasury issued due diligence and reporting regulations.
UK Treasury issued The platform operators (due diligence and reporting requirements) (amendment) regulations 2024 (StIn 2024/1082) which amend the Platform operators (due diligence and reporting requirements) regulations 2023 (StIn 2023/817).
Follows UK Treasury Jul. 2023 issued platform operators regs 2023, see #112360.
Purpose
2023 regulations brought into effect OECD model reporting rules for digital platforms.
The 2023 regulations required operators of digital platforms to collect and report to UK HMRC information about people selling goods and services on their platforms.
Amends regulation 4 of 2023 regulations to ensure that, where there is a UK platform operator, information about sellers who are resident in UK must be reported to HMRC.
Removes reg 10 of 2023 regulations, eliminating proportional reduction of reporting thresholds for sellers registered on the platform for only part of a reportable period.
Consequential amendments made to reg 2/Sch 1 to omit definition of excluded seller.
