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Why do I need to provide my Tax Details

Why do I need to provide my tax details?

Due to the new Model Rules for Reporting by Digital Platform Operators (MRDP) regulations, all Space Owners are required to provide their tax details.

MRDP is a set of regulations requiring online platforms to report information about sellers who operate on their platforms to tax authorities.

Who is affected by MRDP?

The MRDP regulations apply to all sellers on the platform, regardless of whether they are a private individual or a commercial entity.

What are the key requirements of MRDP?

Some of the key requirements include:

• Providing tax details, such as your National Insurance number.
• Providing accurate personal details that match your tax details.
• Ensuring that the tax details provided match the YourParkingSpace account holder.

How is compliance with MRDP monitored and enforced?

Compliance with MRDP is monitored and enforced by tax authorities such as HMRC, as well as our Finance and Legal teams.

What are the penalties for non-compliance with MRDP?

Failure to provide the required information may result in:

• Payments being withheld.
• Your account being suspended or deactivated.

Where can I find more information about MRDP?

You can find more information about MRDP through the following resources:

• OECD – Model Reporting Rules for Digital Platforms
• UK Government – HMRC guidance

What if my Space Owner account is a joint account?

We require the tax details of the account holder associated with the payment details we hold.

If the account is held jointly, the account holders will need to designate one person to provide the required tax details.

Who decides if tax needs to be deducted?

HMRC's tax authority will calculate and deduct any necessary tax deductions.

YourParkingSpace does not manage or collect tax on behalf of HMRC.

When did YourParkingSpace first notify Space Owners about the MRDP requirements?

Space Owners were first informed about the MRDP requirements on 25 October 2024.

The initial deadline for these requirements to be applied was 31 January 2025.

What details do Space Owners need to provide?

For individual sellers, the following information is required:

• Full name
• Full address, including postcode
• Date of birth
• Tax Identification Number (TIN)

Non-UK residents must provide the equivalent tax identification number for their country.

Do Space Owners need to register as self-employed or complete Self Assessment tax forms?

No.

Space Owners are required to provide their tax details, but providing this information does not mean that you need to register as self-employed or complete a Self Assessment tax return.

Any tax-related discrepancies will be investigated by HMRC.

YourParkingSpace is unable to provide individual tax advice. If you're unsure about your tax obligations, we recommend contacting HMRC or a qualified tax professional.

Do tax-exempt Space Owners need to provide their details?

Yes.

All Space Owners are required to provide the relevant information, regardless of their employment or tax status.

This includes, but is not limited to:

• Retirees
• Students
• International residents
• Low-income households
• Benefits claimants

Do Space Owners in the Republic of Ireland need to comply?

The MRDP regulations apply to all reportable jurisdictions, which include both Northern Ireland and the Republic of Ireland.

Do Space Owners need to provide their full address?

Yes.

Space Owners must provide their full address, including their postcode, when submitting their tax information to remain compliant with the requirements.

What are the rules for tax-exempt companies?

Certain organisations, such as charities, trusts, churches and other eligible entities, may not pay income tax and therefore may not have a UTR (Unique Taxpayer Reference) or CRN (Company Registration Number).

Even where an organisation is exempt, we may still be required to report the relevant information using NOTIN on our administration system.

Where applicable, please use:

• NOTIN000 for CRN
• NOTIN00000 for UTR

A full list of exemptions can be found on the UK Government website.

Where can a sole trader find their UTR?

A sole trader can find their UTR (Unique Taxpayer Reference) through their HMRC account, which is used when completing Self Assessment.

What is the tax-free allowance?

There is a £1,000 tax-free allowance for earnings made through the sharing economy. Any earnings above this amount will need to be declared.

This allowance is shared across any other platforms where you may earn income. YourParkingSpace has no way of knowing your individual tax circumstances and therefore must comply with the reporting requirements set out by the relevant governing bodies.

YourParkingSpace cannot provide individual tax advice. If you're unsure about your tax obligations, we recommend contacting HMRC or a qualified tax professional.

Need further help?

If you're having difficulty providing your tax information through your YourParkingSpace account, please contact our Customer Support team and we'll be happy to assist.