Side hustles?

Resident said:
Just be forewarned that HMRC is starting a huge crackdown on side hustles and "gig economy" jobs next year.
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Going after the easy targets for tax, the "little man", instead of the difficult companies with big legal departments. Well they have to find the money to pay for all the wasted millions on PPE etc going to the governments mates.
 
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I used to buy and sell RC cars.

When sterling was stronger against the Yen - or any other currency for that matter - I would buy mostly vintage RC cars from Japan and refurbish them.

I'd then sell the car mostly in UK/EU with a little profit in there.

Didn't make much but it was a nice little side hustle which allowed me to collect the cars I wanted to keep whilst keeping the overall costs down.

Crashing our currency and leaving the EU pretty much ruined it for me. Plus people in the hobby got wise to the buying of hard to find cars from Japan which pushed prices through the roof for the more sort-after examples.
 
Longbow said:
Caught on CCTV today:

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Off topic, but are you the Longbow that plays hunt the survivors etc on Failraces YouTube channel?
 
Meh, unless your doing it as a passion first with a secondary benefit being that it supplements your income 'side hustles' are a waste of time IMO as any side work will likely pay you less per hour then your primary job. If you want to improve your situation invest time into upskilling and make yourself more valuable in the employment market.
 
Freddie1980 said:
Meh, unless your doing it as a passion first with a secondary benefit being that it supplements your income 'side hustles' are a waste of time IMO as any side work will likely pay you less per hour then your primary job. If you want to improve your situation invest time into upskilling and make yourself more valuable in the employment market.
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FACTS!!! side hustles are a waste of time unless it's paying you more than if you did overtime at your primary job.. and if it did... why isn't it your main job?

Unless your doing it for fun or you are learning from it, it's a waste of time.
 
slinxy said:
FACTS!!! side hustles are a waste of time unless it's paying you more than if you did overtime at your primary job.. and if it did... why isn't it your main job?

Unless your doing it for fun or you are learning from it, it's a waste of time.
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A huge number of people can’t simply ‘do overtime’ in their current job so labelling side hustles a waste of time on that basis doesn’t make sense! Similarly just because your side hustle pays more per hour it doesn’t mean it should be your main job maybe it doesn’t scale? Maybe it is high risk and your day job is a comfort blanket for the family? There are so many different circumstances that people find themselves in that your blanket statements are silly.
 
Resident said:
Just be forewarned that HMRC is starting a huge crackdown on side hustles and "gig economy" jobs next year.

Big platform providers such as Etsy, Fiverr, Just Eat, Deliveroo, AirBnB etc have all be warned to comply or else
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I've just been contacted by someone looking for an accountant, as HMRC has just contacted them after being informed they were potentially making an income on the side.

I asked what was their side business...."Only Fans" :D
 
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