‘Side-Hustles’ and their Tax Implications
The webinar looks at ‘side-hustles’ and their...
Posted November 14, 2024
The webinar looks at ‘side-hustles’ and their tax implications.
The session is presented by TaxAid and the Low Incomes Tax Reform Group who explain the tax implications of taking on a side-hustle and what the new Organisation for Economic Development Reporting Rules for Digital Platforms mean.
The cost-of-living crisis has meant many people are supplementing their main income through selling items, taking on gig work or renting out a room in their home. Earning this extra income may result in additional tax and National Insurance being due as well as further tax responsibilities such as registering for Self-Assessment. For those that use online platforms for their side hustle, new rules mean that HMRC will soon have greater visibility over the money they are making. This has all sorts of implications for people and may even lead to HMRC compliance action.
The presentation will help equip advisers in assisting clients who may have queries relating to their side-hustle and potential tax implications.
Log in to Wiseradviser to access the webinar.
