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HMRC Regulations

New HMRC Regulations for sellers on Digital Platforms

As a Platform Operator, Whisky-Online Ltd are legally obligated to comply with The Platform Operators (Due Diligence and Reporting Requirements) Regulations 2023. This means that we will be required by law to collect, identify, verify, and report data on sellers to HMRC from 1st January 2024.

The government has clarified that the new regulations are not a crackdown or a new tax on occasional online sales. Instead, it is a regulation on trading activity, specifically for those who buy and resell or manufacture and sell goods for profit. This means that if you engage in any of these activities and generate income from it, you are required to report it and pay any applicable taxes.

What does this mean for you as a seller on our platform?

From 1st January 2024, we will be required to collect additional information from you as a seller, including your name, address, and tax identification number. This information will be used to verify your identity and ensure that we are compliant with the new reporting requirements. We assure you that all information collected will be kept confidential and will only be shared with HMRC as required by law and inline with our privacy policy.

Effective immediately, if you sell 30 or more bottles/items or the value of your sale proceeds exceeds €2,000 (Approx £1,700, excluding fees and commission) within a single calendar year, we are required to report your data to HMRC. This requirement applies to all our customers, regardless of their location.

Please note that this reporting requirement does not include any fees or commissions charged by Whisky-Online Ltd. Only the actual sale proceeds will be reported to HMRC. 

It should also be noted that we will not be required to report any Sellers who do not exceed the €2,000 (Approx £1,700) or who sell less than 30 bottles/items in a single calendar year.

As a responsible seller, we want to remind you of your obligation to declare any reportable income and comply with tax regulations. We highly recommend consulting with a professional tax advisor to ensure that you are aware and fulfilling your tax obligations. They will be able to provide you with personalised advice based on your specific situation.

We understand that this may seem like an additional task, but we assure you that this is a legal requirement and must be completed to ensure compliance. Failure to update your information may result in your account being suspended or terminated.

We appreciate your understanding and cooperation in this matter. If you have any further questions or concerns, please do not hesitate to reach out to us. 

As part of the selling process, it is important that we have all the necessary information from you to ensure a smooth and efficient transaction. This includes submitting a completed Sellers Consignment Form to us.

The Seller's Consignment Form is a crucial document that provides us with the necessary information to submit to HMRC. By submitting this form in full, we are able to comply with HMRC regulations.

We kindly request that you take the time to fill out the Sellers Consignment Form accurately and completely. This will help us avoid any delays or complications in the selling process.

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