Side hustle traders now have ‘nowhere to hide’ warns expert

Side hustle traders now have ‘nowhere to hide’ warns expert

Individuals using online selling platforms as ‘side hustles’ to boost their income or make a living are being warned of an HMRC crackdown due to come into force soon. Websites such as Vinted, eBay and Airbnb had until the end of last month to tell HMRC about how much...
Autumn Budget 2024 – Full Summary

Autumn Budget 2024 – Full Summary

Chancellor Rachel Reeves delivered her Budget on 30 October 2024. She pledged to ‘invest, invest, invest’ to drive growth and ‘restore economic stability’. 

Reporting rules for digital marketplaces

Reporting rules for digital marketplaces

From 1 January 2024 online platforms such as websites, online marketplaces and apps that allow individuals and businesses to sell items and services are required to collect and report seller information and income to HMRC. If you sell items through eBay, Etsy,...
Voluntary Class 2 NIC wrongly refunded

Voluntary Class 2 NIC wrongly refunded

If you made voluntary Class 2 national insurance contributions (NIC) for the 2022- 23 tax year, check whether this payment has been refunded in error by HMRC. Some self-employed taxpayers who made voluntary Class 2 payments by 31 January 2024 may have an unexpected...
Consider restarting child benefit

Consider restarting child benefit

The clawback threshold for the high-income child benefit charge (HICBC) was increased to £60,000 from 6 April 2024. If you are entitled to child benefit and you or your higher-earning partner’s adjusted net income (ANI) is above £60,000 it is possible that you...