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flag UK social media earners must report income over £1,000; failure to file can result in fines up to £1,000.

flag Millions of UK social media users could face fines up to £1,000 for not reporting income from content creation, HMRC warns. flag A Tide study finds the average earner makes £1,223 annually, with 42% receiving money or gifts for posts. flag Earnings exceeding the £1,000 tax-free trading allowance—including promotional gifts—require a self-assessment tax return. flag Despite this, only 52% of earners know the rule, and just 44% have filed, with lower compliance among 18-24-year-olds. flag HMRC treats branded products given for promotion as taxable income, and penalties start at £100 for late filing, increasing over time.

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