The Income Tax (Digital Requirements) Regulations 2021

Prospective

Interpretation U.K.

2.  In these Regulations—

“TMA 1970” means the Taxes Management Act 1970;

“Commissioners” means the Commissioners for Her Majesty’s Revenue and Customs;

“designatory information” means information which enables HMRC to identify a relevant person, the type of business carried on by a relevant person, the commencement and cessation dates of the business or the basis used for calculating taxable profits for the purposes of income tax;

“digital records” has the meaning given by regulation 6;

“the digital requirements” has the meaning given by regulation 3(1);

“digital start date” has the meaning given by regulation 4;

“end of period information” means financial information(1) and other information in respect of the business of a relevant person for a relevant period(2);

“end of period notice” has the meaning given by regulation 12;

“HMRC” means Her Majesty’s Revenue and Customs;

“property business” has the same meaning as it has in section 263(6) of ITTOIA 2005(3);

“quarterly deadline” has the meaning given by regulation 7(5);

“quarterly period” has the meaning given by regulation 7;

“quarterly update” has the meaning given by regulation 7(2);

“relevant person” means a person to whom Schedule A1 applies by virtue of paragraph 1 or 2 of Schedule A1, other than a person to whom an exemption applies by virtue of Part 7 or 8 of these Regulations;

“retailer” has the same meaning as it does in Schedule 11 to the Value Added Tax Act 1994(4);

“retail sales notice” has the meaning given by regulation 16(1);

“Schedule A1” means Schedule A1 of TMA 1970;

“update information” means financial information and other information in respect of the business of a relevant person for a quarterly period;

“update notice” has the meaning given by regulation 8(1).

Commencement Information

I1 Reg. 2 in force at 6.4.2026 (as amended by S.I. 2024/167, reg. 3), see reg. 1

(1)

For the meaning of “financial information” see paragraph 7(2) of Schedule A1.

(2)

“Relevant period” is defined in paragraph 8(2) of Schedule A1.

(3)

“ITTOIA 2005” is defined in section 118 of TMA 1970. That definition was inserted by paragraphs 357 and 380 of Schedule 1 to the Income Tax (Trading and Other Income) Act 2005 (c. 5).

(4)

1994 c. 23.