They can try as classify it as a payment from our alien overlords but it would have precisely zero impact on whether it was taxable or not.
HMRC to crackdown on side-hustles
- Thread starter Resident
- Start date
Man of Honour
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
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
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Soldato
You get the impression some posters are generally ill informed, and then they stray on to a topic you know something about and it really confirms it.
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)
Caporegime
You only have to walk down the streets around here to see the decorating vans outside with all the plush cars sitting outside then they fall off a ladder and moan about sitting in A&E for 12 hours to see a doctor......
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Permabanned
What amazes and angers me is the number of UK based Ebay sellers with hundreds of thousands of sales yet they provide no VAT receipt. I tend to buy a lot of stuff from eBay as I am out in the sticks away from large conurbations, yet being VAT registered I have to be very selective where I buy from on eBay in order to be able to reclaim VAT on business purchases.
How the hell do they get away with it?? I've chased a few up, occasionally get a reluctant VAT receipt but more often zilch.
How the hell do they get away with it?? I've chased a few up, occasionally get a reluctant VAT receipt but more often zilch.
I doubt there's that much motivation.
What people want is easy money and low hassle. Gig hosting companies specialise in being a middleman that does all the admin. A side effect of people fraudulently ignoring tax is not the entire point of it so these companies will keep going.
Say you're a delivery driver or a airbnb host, are you really going to rush to start a one man business asking for cash in hand or a very unusual bitcoin payment instead of paying taxes.
Man of Honour
Exactly, people could already in theory make more by cutting out the middleman and their fees but then they shrink the pool of potential customers by 100 fold and it's just not worth it, especially we the added hassle of having to organise everything yourself.