IEIM904130 - In What Period Should a "Reportable Seller" be Reported?
When determining the period in which a Seller should be reported, the time of booking is not relevant. Instead, for a Seller to be reported in a particular Reportable Period, they must have done at least one of the following in that Reportable Period:
Carried out a Relevant Activity, or
Have been paid or credited Consideration in relation to a Relevant Activity.
It would be sufficient for the Consideration to be credited to the Seller’s account on the Platform, rather than having to be paid to their bank account.
Where the Relevant Activity itself and the payment of Consideration take place in different Reportable Periods, the Seller should be reported in both periods. Consideration must be reported in respect of the Reportable Period during which it was paid or credited
For example, if a Seller carries out a Relevant Activity in December 2026 and is paid/credited Consideration January 2027 then the Seller is reportable in 2026 for the provision of the Relevant Activity and in 2027 for the payment of Consideration.
Similarly, if Consideration is paid in December 2026, but the Relevant Activity is not performed until January 2027, then the Seller is reportable in 2026 for the payment of Consideration and 2027 for the provision of the Relevant Activity.
There may be circumstances where Consideration is split across two Reportable Periods, for example, a deposit is paid in one Reportable Period and the balance is paid in a subsequent Reportable Period. The Seller should be reported in both Reportable Periods along with the amount of Consideration paid/credited in each Reportable Period.