UK tax agency warns side-hustle earners over £1,000 annually to file taxes or face penalties.

The UK's tax agency, HMRC, warns individuals earning over £1,000 annually from side hustles, such as online sales, babysitting, or renting on Airbnb, to file a tax return. Earnings from selling a single item for over £6,000 may also face Capital Gains Tax. Online platforms like eBay and Airbnb will share earnings data with HMRC to ensure compliance. Individuals must report these incomes to avoid penalties.

November 29, 2024
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