A tax change comes into effect from January 1, 2024
Millions of UK citizens who earn extra cash through a 'side hustle' are being warned of a major change to tax rules. HMRC recently announced a crackdown on tax avoiders that comes into effect from January 1, 2024.
It means that HMRC will soon be able to check for any discrepancies which, if spotted, will give the tax office grounds to launch an investigation. Workers who are already declaring any extra income earned from other platforms correctly will not be affected by the new reporting rules. Money.co.uk business loans expert Cameron Jaques has cautioned those who have a side hustle to make sure they’re paying the right amount of tax ahead of the crackdown in January.
United States Latest News, United States Headlines
Similar News:You can also read news stories similar to this one that we have collected from other news sources.
HMRC issues new £300 cost of living payment update for people on Tax CreditsHMRC is sending out text messages to Tax Credits claimants about the £300 payment.
Read more »
HMRC warning to anyone waiting for £300 cost of living payment as texts sent outHMRC highlighted that it will never include links to websites in its text messages
Read more »
Exact dates £300 Autumn cost of living payments confirmed by HMRCThe HMRC will be texting claimants today
Read more »
HMRC Help to Save accounts offer £1,200 bonus- How to applyHMRC is offering £1,200 through the Help to Save Government saving scheme, find out how you can apply.
Read more »