Cardiovascular disease is rife in the UK, and it's estimated that it could be the cause of death for all people throughout the country.
01.01.2024 - 14:23 / manchestereveningnews.co.uk
HMRC is warning anyone who uses a 'side hustle' platform like Vinted, eBay or Deliveroo to be aware of new rules in force from today amid a crackdown on tax avoiders.
As of today, January 1, websites including eBay, Vinted, Airbnb, Fiverr, Upwork, Uber, Deliveroo and Etsy will have to record how much money people are making through them and report it to HMRC, which will then use the data and compare it to self-assessment reports from individuals.
HMRC says this will allow them to check for discrepancies, giving them grounds to launch an investigation if tax avoidance is suspected, the Mirror reports. The tax office is investing around £37million into the new initiative and is employing 24 full-time staff to launch and enforce the new measures.
READ MORE: HMRC issues warning to everyone working Christmas jobs over the festive period
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In the UK, you can earn £1,000 in additional income each tax year alongside your regular job - this is known as your Trading Allowance. If you make more than this, then you will need to register yourself as self-employed and pay tax on these earnings.
The new rules for these platforms are part of a wider crackdown on tax avoidance from people boosting their income through working side hustles, freelancing and self-employment. The crackdown aims to target those who are under-reporting - or not reporting their earnings at all - and will not impact those who are following the rules.
Self-assessment is the system HMRC uses to collect tax from people who don’t pay it automatically from their wages. So people who are self-employed, freelance or do extra work alongside another job.
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Cardiovascular disease is rife in the UK, and it's estimated that it could be the cause of death for all people throughout the country.
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