Simply Owners and DAC 7

What is DAC 7?

DAC 7 came into effect from 1 January 2023, one year before the UK’s reporting rules came into effect from 1 January 2024. Under DAC 7, platform operators are required to report information to tax authorities in EU member states if they have sellers registered on the platform who are resident in the EU, or rent out immovable property that is located in the EU, even if the platform operator itself is not resident in an EU member state.

Will Simply Owners report DAC 7?

Simply Owners has been classified as 'Out of Scope' for DAC 7 by HMRC and does not have to submit DAC 7 reports on owners earnings. 

The responsibility for reporting income falls on the individual owners, as the guest pays the owner directly.