HMRC to crackdown on side-hustles

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www.walesonline.co.uk

Warning of big HMRC tax crackdown on side hustles from January 1

Anyone using platforms including Airbnb, Fiverr, Upwork, Uber, Deliveroo and Etsy could be impacted
www.walesonline.co.uk www.walesonline.co.uk

HMRC will be requiring side-hustle platforms such as Deliveroo, Etsy, AirBNB, Fiverr and all similar digital side-hustle platforms to report earnings of those using them.

Taxi firms etc are also going to be required to comply.

Could this spell the end of the side hustle?

It'll be interesting with the taxis because there are a lot of shady practices with driver not declaring all their income and some even only declare working 16hrs or less to qualify for benefits whilst actually doing 50+ hours. (FIL is a recently retired taxi driver so he's spilled the beans)
 
I had assumed they pretty much did that anyway when it comes to these sort of large platforms, rather than taking the individuals on trust to report what they've earned through them, more surprised by the fact that they weren't doing that.
 
UK GOV: Here is the results of our position of power for over 13+ years, you cant get a dentist appointment, cant get an ambulance or seen by a doctor, your energy bills and food bills will be the highest you'll ever have to pay. Also a recession is on the way, better hope you keep those jobs!

Also the UK GOV: we are closing every loop hole for ordinary people to make some extra cash and have other opportunities.
Also the UK GOV: all PM's can still do their second jobs.

Its a funny time of year again where we send up fireworks to cheer for a guy who didn't destroy parliament, whilst we all let parliament destroy us.
 
Depending on exactly how the income comes around you may be able to "claim" the £1000 trading allowance.
Self employed who have their books done will almost certainly already have this taken into account.

Normal PAYE peeps probably not

Trading Allowance - TaxAid

This allowance has been introduced from the 6 April 2017 (tax year 2017/18) The Allowance is £1,000 of GROSS income. That is income before any expenses. The exemption is automatic and if your self employed income is £1,000 or less you do not need to tell HMRC or file a tax return. It applies to […]
taxaid.org.uk taxaid.org.uk
 
Don't you just love that. A lot of people have probably been forced to get a second job because of the cost of living.

Meanwhile, BP have just reported a $3.3 billion profit as petrol prices have increased in recent weeks. It falls short of their $4bn expection though, so however will they survive!
 
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