Side hustle tax changes: HMRC reforms could save thousands from filing self-assessment tax returns

The government plans to raise the reporting threshold for trading income – here is how it could help your side hustle

person looking at letter
(Image credit: Getty Images/coldsnowstorm)

Up to 300,000 people earning extra income - in what is known as a ‘side hustle’ - may be given an escape from the administrative burden of self-assessment.

The government has announced reforms to the self-assessment system today (11 March) that could mean people who make extra money on the side beyond their typical job such as by selling clothes online or dog walking, may no longer have to file a tax return.

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Marc Shoffman
Contributing editor

Marc Shoffman is an award-winning freelance journalist specialising in business, personal finance and property. His work has appeared in print and online publications ranging from FT Business to The Times, Mail on Sunday and the i newspaper. He also co-presents the In For A Penny financial planning podcast.