Side hustlers are being urged to check if they need to register for self-assessment.
If you earn more than £1,000 from additional income, you may need to register for self-assessment and complete a tax return – this includes gains or income received from cryptoassets too.
The deadline to submit a Self Assessment tax return online and pay any tax owed for the 2024 to 2025 tax year is the 31st of January 2026.
For more help and guidance on side hustle tax rules, take a look at our New ‘side hustle’ tax rules explained page.
Need help deciding between Limited or Umbrella? We are happy to help- give Lauren a call on 01442 795 100 or email lauren.monks@dolanaccountancy.com
HMRC has also launched a ‘Help for Hustle’ campaign to support people who are earning extra income.
The guide covers five key areas:
- I’m buying or making things to sell
- I’ve got a side gig
- I work for myself doing multiple jobs
- I’m a content creator or influencer
- I rent out my property
To find out more about contracting, please contact Jaime on 01442 795 100 or email jaime.thorpe@dolanaccountancy.com.
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