Regulation 8 Notification to HMRC: excluded platform operatorsI1

United Kingdom

(1)

A platform operator that relies on the excluded platform operator exemption (see paragraph (2)) must give notice to HMRC.

(2)

A platform operator relies on the excluded platform operator exemption if—

(a)

it is an excluded platform operator,

(b)

it would be required to comply with regulations 3 (due diligence and record-keeping) and 4 (reporting of information) for a reportable period if it were not an excluded platform operator, and

(c)

it does not, in fact, comply with one or both of regulations 3 or 4 in respect of that reportable period.

(3)

Notice under paragraph (1) must be given by no later than the 31st January following the end of the first reportable period for which the platform operator relies on the excluded platform operator exemption.

(4)

The form and manner in which notice under paragraph (1) is to be given is specified in specific or general directions given by the Commissioners for HMRC.

Annotations

Commencement

I1: Reg. 8 in force at 1.1.2024, see reg. 1