- John Healey has delivered his first Budget as Chancellor, saying he wants to give families “a bit of breathing space”.
- Mr Healey announced the government is tripling the trading allowance to £3,000. This applies to an individual’s total income from all side hustles before expenses are deducted.
- Previously, if you earned more than £1,000 a year from side hustles, you might have needed to register for self-assessment and report your income to HMRC. The government said the changes will apply from 6 April 2027.
- A side hustle is a way of earning extra money outside your main job, usually on a self-employed or freelance basis. This could include selling items you've made or bought through online marketplaces, providing services such as tutoring, dog walking or delivery driving, or earning money from sponsored online content.
- If you're unsure whether you need to file a tax return, HMRC has a free online checker that explains what you need to do. More help can also be found by checking out HMRC’s Help for Hustles campaign.
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