Latest news with #LaurenWright
Fox News
4 days ago
- Politics
- Fox News
Democrats don't have clear stances on any policy issue, says Princeton political scientist
Princeton University political scientist Dr. Lauren Wright discusses the Democratic Party's latest approval ratings and efforts to connect with young voters on 'Fox Report.'
Glasgow Times
26-06-2025
- Business
- Glasgow Times
Ebay, Vinted and Etsy users given £1,000 warning from HMRC
HM Revenue and Customs (HMRC) is encouraging those with side hustles and second jobs earning more than £1,000 – from online selling to dog walking and property rental – to see if they need to register for Self Assessment. They say filing now means you will know your tax situation sooner and can spread payments over time. What's the £1,000 threshold for HMRC? The £1,000 threshold is key: anyone who earns more than this from their side hustle in a tax year may need to register for Self Assessment and complete a tax return. This includes gains or income received from cryptoassets. Anyone who thinks they may need to complete a tax return for the 2024 to 2025 tax year can use the checker tool on to find out. New entrants to Self Assessment must register to receive their Unique Taxpayer Reference. Got a side gig or hustle? 💸 Check if you need to tell us about your additional income below. ⬇️ — HM Revenue & Customs (@HMRCgovuk) June 25, 2025 Myrtle Lloyd, HMRC's Director General for Customer Services, says: "Whether you are selling handmade crafts online, creating digital content, or renting out property, understanding your tax obligations is essential. If you earn more than £1,000 from these activities, you may need to complete a Self Assessment tax return. "Filing early puts you in control – you will know exactly what you owe, can plan your payments, and avoid the stress of the January rush. You don't need to pay immediately when you file – you have until 31 January to settle your tax bill." Lauren Wright of chartered accountants, Ridgefield Consulting, explains that people should not assume their side hustle is exempt: 'Our firm often advises people who haven't realised their side income needed declaring. Many assume occasional selling or freelance work isn't taxable, but once income becomes regular or exceeds £1,000, a Self Assessment return is required. "With 43% of UK adults running side hustles and new HMRC reporting rules from 2025, more people risk unexpected tax bills. This is not a new tax, simply greater enforcement, especially for younger earners on platforms like Etsy or Airbnb. The key is to register early, track income and expenses, and don't assume your hustle is exempt. If unsure, seek professional advice.' Scott Gallacher, Director at wealth manager, Rowley Turton, agrees that people are often unaware of the rules: 'With platforms like eBay, Etsy, and Shopify, side hustles are more popular than ever. But many don't realise that earning over £1,000 in a tax year may mean needing to register for Self Assessment. In my experience, it's rarely deliberate tax evasion — more often just a lack of awareness. "But I have noticed fewer familiar sellers recently — people I've bought from in the past — possibly due to HMRC's increased focus on this area. My tips for people with side hustles include keeping records, however small the income, setting aside 20%–30% for tax and National Insurance, not ignoring HMRC letters and speaking to an accountant early if unsure.' Kundan Bhaduri, Entrepreneur at The Kushman Group, says the warning is a little heavy-handed: 'Well, isn't it splendid that while Rome proverbially burns, HMRC's legions are being dispatched to hunt down anyone daring to earn a few extra quid selling knitted tea cosies online. "HMRC's stern warning that those earning over a £1000 from handmade crafts or digital content might need to wrestle with a Self Assessment tax return is truly the stuff of economic legend. While the nation faces genuine fiscal challenges, and businesses scream for sensible policy, this focus on micro earnings feels like rearranging deckchairs.' There's more on HMRC here: When is the HMRC self-assessment deadline? The deadline to submit a Self Assessment tax return online and pay any tax owed for the 2024 to 2025 tax year is 31 January 2026. Early preparation is particularly important for sole traders or landlords with a qualifying income over £50,000, as they will also need to get ready to start using Making Tax Digital (MTD) for Income Tax from April 2026. This will require digital record-keeping and quarterly updates using compatible software.
Powys County Times
26-06-2025
- Business
- Powys County Times
Ebay, Vinted and Etsy users given £1,000 warning from HMRC
HMRC has issued a £1000 warning to eBay, Vinted, Etsy, Facebook marketplace and Air BnB users. HM Revenue and Customs (HMRC) is encouraging those with side hustles and second jobs earning more than £1,000 – from online selling to dog walking and property rental – to see if they need to register for Self Assessment. They say filing now means you will know your tax situation sooner and can spread payments over time. What's the £1,000 threshold for HMRC? The £1,000 threshold is key: anyone who earns more than this from their side hustle in a tax year may need to register for Self Assessment and complete a tax return. This includes gains or income received from cryptoassets. Anyone who thinks they may need to complete a tax return for the 2024 to 2025 tax year can use the checker tool on to find out. New entrants to Self Assessment must register to receive their Unique Taxpayer Reference. Got a side gig or hustle? 💸 Check if you need to tell us about your additional income below. ⬇️ — HM Revenue & Customs (@HMRCgovuk) June 25, 2025 Myrtle Lloyd, HMRC's Director General for Customer Services, says: "Whether you are selling handmade crafts online, creating digital content, or renting out property, understanding your tax obligations is essential. If you earn more than £1,000 from these activities, you may need to complete a Self Assessment tax return. "Filing early puts you in control – you will know exactly what you owe, can plan your payments, and avoid the stress of the January rush. You don't need to pay immediately when you file – you have until 31 January to settle your tax bill." Lauren Wright of chartered accountants, Ridgefield Consulting, explains that people should not assume their side hustle is exempt: 'Our firm often advises people who haven't realised their side income needed declaring. Many assume occasional selling or freelance work isn't taxable, but once income becomes regular or exceeds £1,000, a Self Assessment return is required. "With 43% of UK adults running side hustles and new HMRC reporting rules from 2025, more people risk unexpected tax bills. This is not a new tax, simply greater enforcement, especially for younger earners on platforms like Etsy or Airbnb. The key is to register early, track income and expenses, and don't assume your hustle is exempt. If unsure, seek professional advice.' @uktoday_ Here are the UK tax codes explained and how to check your tax code #uknews #uktax #taxcode #uknewsheadlines ♬ original sound - UKToday 🇬🇧 Newsquest Scott Gallacher, Director at wealth manager, Rowley Turton, agrees that people are often unaware of the rules: 'With platforms like eBay, Etsy, and Shopify, side hustles are more popular than ever. But many don't realise that earning over £1,000 in a tax year may mean needing to register for Self Assessment. In my experience, it's rarely deliberate tax evasion — more often just a lack of awareness. "But I have noticed fewer familiar sellers recently — people I've bought from in the past — possibly due to HMRC's increased focus on this area. My tips for people with side hustles include keeping records, however small the income, setting aside 20%–30% for tax and National Insurance, not ignoring HMRC letters and speaking to an accountant early if unsure.' Kundan Bhaduri, Entrepreneur at The Kushman Group, says the warning is a little heavy-handed: 'Well, isn't it splendid that while Rome proverbially burns, HMRC's legions are being dispatched to hunt down anyone daring to earn a few extra quid selling knitted tea cosies online. "HMRC's stern warning that those earning over a £1000 from handmade crafts or digital content might need to wrestle with a Self Assessment tax return is truly the stuff of economic legend. While the nation faces genuine fiscal challenges, and businesses scream for sensible policy, this focus on micro earnings feels like rearranging deckchairs.' There's more on HMRC here: When is the HMRC self-assessment deadline? The deadline to submit a Self Assessment tax return online and pay any tax owed for the 2024 to 2025 tax year is 31 January 2026. Early preparation is particularly important for sole traders or landlords with a qualifying income over £50,000, as they will also need to get ready to start using Making Tax Digital (MTD) for Income Tax from April 2026.
South Wales Argus
26-06-2025
- Business
- South Wales Argus
Ebay, Vinted and Etsy users given £1,000 warning from HMRC
HM Revenue and Customs (HMRC) is encouraging those with side hustles and second jobs earning more than £1,000 – from online selling to dog walking and property rental – to see if they need to register for Self Assessment. They say filing now means you will know your tax situation sooner and can spread payments over time. What's the £1,000 threshold for HMRC? The £1,000 threshold is key: anyone who earns more than this from their side hustle in a tax year may need to register for Self Assessment and complete a tax return. This includes gains or income received from cryptoassets. Anyone who thinks they may need to complete a tax return for the 2024 to 2025 tax year can use the checker tool on to find out. New entrants to Self Assessment must register to receive their Unique Taxpayer Reference. Got a side gig or hustle? 💸 Check if you need to tell us about your additional income below. ⬇️ — HM Revenue & Customs (@HMRCgovuk) June 25, 2025 Myrtle Lloyd, HMRC's Director General for Customer Services, says: "Whether you are selling handmade crafts online, creating digital content, or renting out property, understanding your tax obligations is essential. If you earn more than £1,000 from these activities, you may need to complete a Self Assessment tax return. "Filing early puts you in control – you will know exactly what you owe, can plan your payments, and avoid the stress of the January rush. You don't need to pay immediately when you file – you have until 31 January to settle your tax bill." Lauren Wright of chartered accountants, Ridgefield Consulting, explains that people should not assume their side hustle is exempt: 'Our firm often advises people who haven't realised their side income needed declaring. Many assume occasional selling or freelance work isn't taxable, but once income becomes regular or exceeds £1,000, a Self Assessment return is required. "With 43% of UK adults running side hustles and new HMRC reporting rules from 2025, more people risk unexpected tax bills. This is not a new tax, simply greater enforcement, especially for younger earners on platforms like Etsy or Airbnb. The key is to register early, track income and expenses, and don't assume your hustle is exempt. If unsure, seek professional advice.' Scott Gallacher, Director at wealth manager, Rowley Turton, agrees that people are often unaware of the rules: 'With platforms like eBay, Etsy, and Shopify, side hustles are more popular than ever. But many don't realise that earning over £1,000 in a tax year may mean needing to register for Self Assessment. In my experience, it's rarely deliberate tax evasion — more often just a lack of awareness. "But I have noticed fewer familiar sellers recently — people I've bought from in the past — possibly due to HMRC's increased focus on this area. My tips for people with side hustles include keeping records, however small the income, setting aside 20%–30% for tax and National Insurance, not ignoring HMRC letters and speaking to an accountant early if unsure.' Kundan Bhaduri, Entrepreneur at The Kushman Group, says the warning is a little heavy-handed: 'Well, isn't it splendid that while Rome proverbially burns, HMRC's legions are being dispatched to hunt down anyone daring to earn a few extra quid selling knitted tea cosies online. "HMRC's stern warning that those earning over a £1000 from handmade crafts or digital content might need to wrestle with a Self Assessment tax return is truly the stuff of economic legend. While the nation faces genuine fiscal challenges, and businesses scream for sensible policy, this focus on micro earnings feels like rearranging deckchairs.' There's more on HMRC here: When is the HMRC self-assessment deadline? The deadline to submit a Self Assessment tax return online and pay any tax owed for the 2024 to 2025 tax year is 31 January 2026. Early preparation is particularly important for sole traders or landlords with a qualifying income over £50,000, as they will also need to get ready to start using Making Tax Digital (MTD) for Income Tax from April 2026. This will require digital record-keeping and quarterly updates using compatible software.
North Wales Chronicle
25-06-2025
- Business
- North Wales Chronicle
Vinted, eBay, and Etsy users given £1,000 warning from HMRC
HM Revenue and Customs (HMRC) is encouraging those with side hustles and second jobs earning more than £1,000 – from online selling to dog walking and property rental – to see if they need to register for Self Assessment. They say filing now means you will know your tax situation sooner and can spread payments over time. The £1,000 threshold is key: anyone who earns more than this from their side hustle in a tax year may need to register for Self Assessment and complete a tax return. This includes gains or income received from cryptoassets. Anyone who thinks they may need to complete a tax return for the 2024 to 2025 tax year can use the checker tool on to find out. New entrants to Self Assessment must register to receive their Unique Taxpayer Reference. Got a side gig or hustle? 💸 Check if you need to tell us about your additional income below. ⬇️ Myrtle Lloyd, HMRC's Director General for Customer Services, says: "Whether you are selling handmade crafts online, creating digital content, or renting out property, understanding your tax obligations is essential. If you earn more than £1,000 from these activities, you may need to complete a Self Assessment tax return. "Filing early puts you in control – you will know exactly what you owe, can plan your payments, and avoid the stress of the January rush. You don't need to pay immediately when you file – you have until 31 January to settle your tax bill." Lauren Wright of chartered accountants, Ridgefield Consulting, explains that people should not assume their side hustle is exempt: 'Our firm often advises people who haven't realised their side income needed declaring. Many assume occasional selling or freelance work isn't taxable, but once income becomes regular or exceeds £1,000, a Self Assessment return is required. "With 43% of UK adults running side hustles and new HMRC reporting rules from 2025, more people risk unexpected tax bills. This is not a new tax, simply greater enforcement, especially for younger earners on platforms like Etsy or Airbnb. The key is to register early, track income and expenses, and don't assume your hustle is exempt. If unsure, seek professional advice.' Scott Gallacher, Director at wealth manager, Rowley Turton, agrees that people are often unaware of the rules: 'With platforms like eBay, Etsy, and Shopify, side hustles are more popular than ever. But many don't realise that earning over £1,000 in a tax year may mean needing to register for Self Assessment. In my experience, it's rarely deliberate tax evasion — more often just a lack of awareness. "But I have noticed fewer familiar sellers recently — people I've bought from in the past — possibly due to HMRC's increased focus on this area. My tips for people with side hustles include keeping records, however small the income, setting aside 20%–30% for tax and National Insurance, not ignoring HMRC letters and speaking to an accountant early if unsure.' Kundan Bhaduri, Entrepreneur at The Kushman Group, says the warning is a little heavy-handed: 'Well, isn't it splendid that while Rome proverbially burns, HMRC's legions are being dispatched to hunt down anyone daring to earn a few extra quid selling knitted tea cosies online. "HMRC's stern warning that those earning over a £1000 from handmade crafts or digital content might need to wrestle with a Self Assessment tax return is truly the stuff of economic legend. While the nation faces genuine fiscal challenges, and businesses scream for sensible policy, this focus on micro earnings feels like rearranging deckchairs.' There's more on HMRC here: The deadline to submit a Self Assessment tax return online and pay any tax owed for the 2024 to 2025 tax year is 31 January 2026. Early preparation is particularly important for sole traders or landlords with a qualifying income over £50,000, as they will also need to get ready to start using Making Tax Digital (MTD) for Income Tax from April 2026. This will require digital record-keeping and quarterly updates using compatible software.
