UK to Raise Income Tax Reporting Threshold to Help Side-Hustlers

The UK government will raise the reporting threshold at which people have to self-declare earnings for income tax, a move it said would help people who earn money from so-called “side hustles” like dog-walking, trading clothes online and gardening.

The £1,000 ($1,292) income tax self assessment reporting threshold will increase to £3,000 over the course of this parliament, the Treasury announced in a statement on Tuesday. The move will help around 300,000 taxpayers and an estimated 90,000 of them will have no tax to pay and no reason to report their trading income to HMRC, the Treasury said.