Major tax change announced for side hustles affecting Vinted sellers, taxi drivers and dog walkers

Sir Keir Starmer plans to grow the economy by increasing the Income Tax Self Assessment reporting threshold for trading income from £1,000 to £3,000, sparing around 300,000 side hustlers from filing tax returns. Of these, approximately 90,000 individuals will owe no tax, and the rest can pay any tax owed through a new online service. Tax minister James Murray will announce these changes, as well as plans to ease import restrictions on valuable objects, at a speech marking the 20th anniversary of HMRC.

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