The Platform Operators (Due Diligence and Reporting Requirements) Regulations 2023

1. Introductory Text

2. PART 1 Introductory Provisions

   1. 1. Citation and Commencement

   2. 2. Interpretation

3. PART 2 Due diligence, record-keeping and reporting obligations

   1. 3. Due Diligence and record-keeping

   2. 4. Reporting of Information

   3. 5. Electronic report system

   4. 6. Provision of Information

   5. 7. Notification to HMRC: reporting platform operators

   6. 8. Notification to HMRC: excluded platform operators

   7. 9. Notification to HMRC: application of the due diligence procedures to active sellers only

   8. 10. Excluded Sellers: proportional reduction of thresholds

4. PART 3 Penalties for breach of obligations

   1. 11. Penalties for late reports

   2. 12. Penalties for failure to provide information to reportable sellers

   3. 13. Penalties for failure to provide information to HMRC

   4. 14. Penalties for failure to comply with record-keeping requirements

   5. 15. Penalties for failure to notify

   6. 16. Penalties for failure to apply due diligence procedures

   7. 17. Penalties for inaccurate or incomplete reports

   8. 18. Reasonable excuse

   9. 19. Duplication of liability to penalties

   10. 20. Assessment of penalties by HMRC

   11. 21. Time limits and treatment of penalties

   12. 22. Right to appeal against penalty assessments by HMRC

   13. 23. Procedure on appeal

5. Signature

6. 1. SCHEDULE 1

      Defined terms

7. Explanatory Note