Digital Platform Regulations (DAC7)
How do I submit my annual report to HMRC?
Last Updated: April 15, 2025To submit your annual report to HMRC you must first register as a Digital Platform through your HMRC Government Gateway: https://www.gov.uk/guidance/register-to-carry-out-digital-platform-reporting Your Platform ID, which is 15 characters long, will be provided when you register. Once registered, you can find the correct ID under “Platform operators” within your HMRC Government Gateway When you have your...
I am a Sole trader operating as an agency do I have to submit a DAC7 report?
Last Updated: April 15, 2025Question: I am a sole trader. Operating as an agency, do I need to submit a DAC7 report? Answer: No, for the time being, sole traders are exempt.
Why do agencies need to collect the data?
Last Updated: April 15, 2025The DAC7 directive, introduced by the UK’s HMRC (His Majesty’s Revenue and Customs), aims to enhance tax transparency and compliance within the digital platform economy. Under this regulation, all digital platforms must report the income earned by third parties—whether individuals or businesses—who generate revenue through their services. The directive’s primary objective is to prevent tax...
What owners do I have to input data for in January 2025
Last Updated: April 15, 2025In the January 2025 report, you only need to submit data for any owner that has been added to your account after 01.01.2024. Anybody you have signed up before this date does not need to be included in the January 2025 report. In the following years, you will need to report on all owners, but...
How do I verify my owners data for DAC7?
Last Updated: April 15, 2025You cannot verify the information directly within Bookalet, but third-party providers, such as Yoti.com, can assist in verifying the data provided by your owners to ensure its accuracy.
What data is required for DAC7?
Last Updated: April 15, 2025Different data needs to be recorded depending on the type of owner you are working with—I.e. an individual or a business. When you go to the owner’s section, you will now see an area on the right called (Digital Platform Reporting) which, if there is data missing it will alert you to what is needed...
What is DAC7?
Last Updated: April 15, 2025DAC7 is a directive introduced by the UK’s HMRC (His Majesty’s Revenue and Customs) to enhance tax transparency and compliance within the digital platform economy. It requires digital platforms to report the income earned by sellers using their services. The directive’s primary objective is to prevent tax evasion by ensuring all income generated through digital...