IEIM905010 - »Ê¹ÚÌåÓýapp Initial Period

HMRC understands that this is a new reporting regime and some platform operators may face difficulties in meeting all their reporting obligations. »Ê¹ÚÌåÓýapprefore, HMRC will take a ‘soft landingâ€� approach to penalties in the initial period of implementation.

This means that if, for reports submitted by 31 January 2025 and 31 January 2026, a Platform Operator (PO) has failed to meet their reporting obligations, HMRC would only charge penalties where there was deliberate non-compliance.

After the initial period, POs should generally have had sufficient time to become familiar with the requirements of these rules and develop their systems to comply. »Ê¹ÚÌåÓýapp expectation is therefore that Reporting Platform Operators can report accurate information in a timely manner.

  1. IEIM905011
    Example 1 - Late Submission due to IT difficulties in the Initial Period
  2. IEIM905012
    Example 2 - Missing Information in the Initial Period
  3. IEIM905013
    Non-compliance in the Initial Period