How HMRC taxes hobbies and side hustles

09/02/24 • 19 min

Ridgefield Consulting's Accounting Advice

More and more of us are earning extra money on the side, whether it's out of need or for personal enjoyment; but do you know that this may mean having to pay more income tax? In this episode, Lauren explains how HMRC will seek to tax those who make extra income from hobbies or side hustles.
Access the full article which is regularly updated here: https://www.ridgefieldconsulting.co.uk/tax-guides/how-hmrc-taxes-hobbies-and-side-hustles/
For more content like this, visit the 'Tax Guides' page on our website: https://www.ridgefieldconsulting.co.uk/tax-guides/
Sign up to our email newsletter for the latest tax and accounting articles: https://www.ridgefieldconsulting.co.uk/#newsletter

Previous Episode

How social media influencers and content creators get taxed

Social media influencing and content creation has fast become a lucrative career. If you're working in this sector, then be sure you understand the rules on how to declare your earnings which may need to include any free promotional gifts you receive.
This podcast episode will serve as a guide to influencers, bloggers, vloggers, content creators and everyone else in between on how HMRC will expect you to report your income.
Access our full article which is updated regularly: https://www.ridgefieldconsulting.co.uk/tax-guides/how-social-media-influencers-and-content-creators-are-taxed/
For more content like this, visit the 'Tax Guides' page on our website: https://www.ridgefieldconsulting.co.uk/tax-guides/
Sign up to our email newsletter for the latest tax and accounting articles: https://www.ridgefieldconsulting.co.uk/#newsletter

Next Episode

How to get a mortgage when you're self-employed

Getting a mortgage is one of the main challenges when it comes to buying a property, but when you're self-employed it can seem like it's even more difficult. That's not necessarily the case though, and in this podcast episode, Arekshe explains how an accountant can help you secure a mortgage more easily.
Access the full article which is regularly updated here: https://www.ridgefieldconsulting.co.uk/tax-guides/oxford-accountants-advise-how-to-get-a-mortgage-when-youre-self-employed/
For more content like this, visit the 'Tax Guides' page on our website: https://www.ridgefieldconsulting.co.uk/tax-guides/
Sign up to our email newsletter for the latest tax and accounting articles: https://www.ridgefieldconsulting.co.uk/#newsletter