Load WordPress Sites in as fast as 37ms!

HMRC urges people earning more than £1,000 from side hustle to make ‘essential’ check | Personal Finance | Finance

The tax office is urging anyone earning extra income from a side hustle, such as online selling, content creation, dog walking, or property rental, to check if they need to register for Self Assessment and, if so, to file their tax return as soon as possible.

The call comes as HM Revenue and Customs (HMRC) seeks to help taxpayers avoid the last-minute rush ahead of the January 2026 deadline for the 2024 to 2025 tax year. The tax body highlights that anyone earning more than £1,000 from side jobs in a single tax year – including income from crypto assets – may need to register for Self Assessment and complete a tax return. 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.”

Ms Lloyd added: “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 January 31 to settle your tax bill.

Individuals can use the checker tool available on GOV.UK to determine whether a tax return is necessary. Those new to Self-Assessment will need to register to receive a Unique Taxpayer Reference.

HMRC has also launched the Tax Help for Hustles campaign, offering easy-to-use guides to help side hustlers understand their obligations and avoid unexpected tax bills.

Early preparation is particularly crucial for sole traders and landlords whose qualifying income exceeds £50,000. They need to get ready for the Making Tax Digital for Income Tax requirements that will take effect in April 2026. These new regulations will mandate digital record-keeping and quarterly updates.

For further guidance, taxpayers can visit the Tax Help for Hustles campaign page on GOV.UK.

Check Also

HMRC increases tax-free Personal Allowance to £20,070 for self-assess households | Personal Finance | Finance

HMRC is offering a tax-free Personal Allowance of up to £20,070 for households who submit …

The Ultimate Managed Hosting Platform
If you purchase through these links, I may earn a commission at no additional cost to you.