HMRC to crackdown on side-hustles

[Resident]

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

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)

 

[Resident]

I hope so. So many loopholes for taxi drivers. Just recently read about all the Manchester taxi drivers register in Wolverhampton because the fees are half the costs that Manchester charge.

The council should really be leveraging ANPR to monitor these drivers and fining them if they quite clearly making a large number of pickups/drop-offs in Manchester. Should automatically trigger a fine if the registered keepers address is in Manchester but the taxi license is clearly far away.

Wolvo council issued just over 22,000 plates between 01/05/23 & 01/08/23.

When you do the math there are only 64 workdays in that period, council office hours around 7.5hrs.

It equates to just under 1 plate per minute. Can't tell me those have been properly checked.

 

[Resident]

For the average person making a bit on the side on youtube tce it's going to be meaningless like it's always been for people making a it of extra cash every month/other month. Once a track record of regular higher value income is seen then little bells will start ringing in a taxman's head somewhere out there. They simply don't have the resourcing to follow up on every little bit everyone is or isn't making.

My workmate on the other hand raking in almost £40k a year from their AirBNB side hustle will be affected, I shall forward the link on

Depending on how far back they go he may ended up with more than just a tax bill (assuming he's not already been declaring it)