Collecting information from Payment Service Providers (PSPs)
From 15 December 2022, we can regularly collect bulk data from PSPs. In 2022, an Order in Council was made to allow us to collect this information.
The first period that these new regulations apply to will be 1 April 2023 – 30 September 2023, and the information for this period is due 7 November 2023.
Who needs to report their transactions
Organisations that facilitate payments for goods and services between customers and merchants will need to report these transactions to us. The information will be used to:
- ensure that business taxpayers comply with their tax obligations by paying the correct amount of tax
- offer enhanced information, services and support.