Side-hustle reporting threshold increased

Side-hustle reporting threshold increased

The Government has announced plans to increase the threshold above which income from self-employment must be reported via self assessment. Currently, if you earn over £1,000 from self-employment, or a so-called ‘side hustle’ such as babysitting or dog...
High-income child benefit charge via PAYE

High-income child benefit charge via PAYE

From August 2025 employed taxpayers will no longer be required to complete a self assessment tax return (SATR) to declare and pay the high-income child benefit charge (HICBC). The HICBC is a tax charge paid by the higher earning parent which claws back up to 100% of...
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,...