Digital Platform tax reporting
The Platform Operators (Due Diligence and reporting Requirements) Regulations 2023 and its application means digital platforms (including online auction houses) are required by law to collect, verify and report data on sellers to HMRC from 1st January 2024.
If you sell 30 or more bottles within a single calendar year there will be a requirement to report your data to HMRC, similarly if your sales exceed EUR 2000 (excluding fees and commission) in a single calendar year there will be a requirement to report your data to HMRC on an annual basis.
Sellers who sell less than 30 bottles in a single calendar year and whose sales do not exceed EUR 2000 will not be reported.
If you meet the above thresholds in a calendar year you will receive an email and be prompted to supply the following information in your account:
Private sellers:
1. First and last name
2. Residency address
3. Tax identification number (TIN) or place and country of birth, if you don’t have a TIN
4. Date of birth
Business sellers:
1. Legal company name
2. Registered business address
3. Tax identification number (TIN)
4. Value added tax (VAT) number
5. Business registration number
6. Existence of a permanent establishment (PE) in the EU
We will report annually to HMRC to comply with our legal obligations from 31st January 2025. HMRC will cross check the data against their records and share with relevant jurisdictions for non-UK resident sellers.
We will also provide you with the data submitted to HMRC in an annual report to assist you in your tax self-assessment.
All data will be securely stored within your MySWA account and will be processed by us strictly as required only for compliance and to fulfil our legal obligations. You can view our full Privacy Notice here.
Please note this isn’t a change in what is taxable and will not necessarily increase your tax obligations but the change in how this data is being collected and reported will ultimately result in greater visibility for tax authorities concerning online transactions through digital platforms. It continues to be sellers' responsibility to declare and pay any taxes due and you should consult with your relevant tax authority if you have questions on your tax position.
If you do not supply the requested information for your account this may result in delays and withholding of payment. We are required to collect the information to comply with our legal obligations.