Side hustles can be any additional income stream, from online selling to content creation, from dog walking to property rental. It also includes gains or income received from cryptoassets.
Anyone who earns over the £1,000 threshold may need to register for self assessment and complete a tax return. There is a checker tool on GOV.UK for those who aren’t sure if they meet the criteria. If they do and are new to self assessment they will need to register to receive their Unique Taxpayer Reference. Guides for side hustlers can also be found at taxhelpforhustles.campaign.gov.uk.
Myrtle Lloyd, HMRC's Director General for Customer Services, said:
"Whether you are selling handmade crafts online, creating digital content, or renting out property, understanding your tax obligations is essential. If you earn more than £1,000 from these activities, you may need to complete a self assessment tax return.
Filing early puts you in control – you will know exactly what you owe, can plan your payments, and avoid the stress of the January rush. You don't need to pay immediately when you file – you have until 31 January to settle your tax bill."
Click here for more information.
07/07/2025
View all >
HMRC sends side hustle warning
HMRC is warning those earning extra income through a side hustle to check if they need to register for self assessment and file a tax return.
READ MORE
Windsor Framework issues, warns FSB
The Windsor Framework is creating severe disruption for small businesses and fracturing the UK Internal Market, warns the Federation of Small Businesses (FSB).
Over 25% of UK businesses hit by cyberattack
More than one in four UK businesses have been the victim of a cyberattack in the last year with many risking ‘sleepwalking’ into disruption, according to a new report.
Sign up to keep in touch to receive our latest news and industry updates.
* *
Yes, I would like to receive email updates providing me with the latest finance news, advice guides and details of future events.