HMRC issues £1,000 tax warning to a number of workers ahead of deadline
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HMRC issues £1,000 tax warning to a number of workers ahead of deadline.
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Britons earning extra income through a side hustle are being urged by HM Revenue and Customs (HMRC) to check whether they need to register for Self Assessment before the October 5 deadline.The tax authority has reminded people that anyone earning more than £1,000 from additional income during a tax year may need to register for Self Assessment.HMRC said the warning is particularly relevant for people taking on seasonal work, including wedding photography, content creation and fitness instruction.The department is encouraging taxpayers to check their obligations early to avoid unexpected tax bills or penalties.
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TRENDING Stories Videos Your Say The reminder comes during the peak wedding season, when many people take on freelance work to supplement their income.HMRC said the £1,000 trading allowance applies to a person's combined side hustle income rather than each activity separately.For example, someone who earns £600 from wedding photography and £500 from sponsored social media...
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