Tax obligations for ‘side hustles’
HMRC has launched a new campaign to remind people that earning extra income from a ‘side hustle’ – a smaller income source outside of your primary job – also comes with tax obligations.
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HMRC has launched a new campaign to remind people that earning extra income from a ‘side hustle’ – a smaller income source outside of your primary job – also comes with tax obligations.
After the 2025–2026 tax year starts on 6th April, directors of close companies will have to report the dividend income they receive from their company separately.
As the 2024–2025 tax year comes to a close, you should be completing your year-end tax planning to ensure all loose ends are tied up before moving on to new tax year planning.
There are several reasons for the increase in late payment interest collections, including increasing interest rates and frozen or reduced tax liability thresholds.
Are you planning to come from another country to work as an employee in the UK? From 6th April 2025, an improved version of overseas workday relief (OWR) will be introduced.
HMRC is having a busy start to 2025 when it comes to Making Tax Digital (MTD) updates. As we reported earlier, the MTD timeline has changed for those due to start using the digital platform to submit Income Tax Self-Assessment (ITSA) returns from 2026.
If any of our latest content leaves you wondering how this may affect your business, our team are on hand to deal with any queries you have.
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